Gaxos.ai Inc. Announces Closing of $4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Gaxos.ai Inc. (NASDAQ: GXAI) has successfully closed a registered direct offering of 1,346,669 shares of common stock at $3.00 per share, raising approximately $4 million in gross proceeds. The company also issued unregistered warrants in a concurrent private placement to purchase up to 1,346,669 shares at an exercise price of $3.00 per share, valid for three years. H.C. Wainwright & Co. served as the exclusive placement agent. The net proceeds will be used for working capital and general corporate purposes. This offering brings Gaxos's total gross proceeds raised in December 2024 to approximately $9 million.
Gaxos.ai Inc. (NASDAQ: GXAI) ha completato con successo un’offerta diretta registrata di 1.346.669 azioni di azioni ordinarie a $3,00 per azione, raccogliendo circa $4 milioni di proventi lordi. L'azienda ha inoltre emesso warrant non registrati in una collocazione privata concomitante per acquistare fino a 1.346.669 azioni a un prezzo di esercizio di $3,00 per azione, validi per tre anni. H.C. Wainwright & Co. ha agito come agente di collocamento esclusivo. I proventi netti saranno utilizzati per il capitale operativo e scopi aziendali generali. Questa offerta porta il totale dei proventi lordi raccolti da Gaxos nel dicembre 2024 a circa $9 milioni.
Gaxos.ai Inc. (NASDAQ: GXAI) ha cerrado con éxito una oferta directa registrada de 1,346,669 acciones de acciones ordinarias a $3.00 por acción, recaudando aproximadamente $4 millones en ingresos brutos. La compañía también emitió warrants no registrados en una colocación privada concurrente para comprar hasta 1,346,669 acciones a un precio de ejercicio de $3.00 por acción, válidos por tres años. H.C. Wainwright & Co. actuó como el agente de colocación exclusivo. Los ingresos netos se utilizarán para capital de trabajo y fines corporativos generales. Esta oferta eleva el total de ingresos brutos recaudados por Gaxos en diciembre de 2024 a aproximadamente $9 millones.
Gaxos.ai Inc. (NASDAQ: GXAI)는 1,346,669 주의 보통주에 대해 주당 $3.00에 등록된 직접 공모를 성공적으로 마감하고 약 $4백만의 총 수익을 올렸습니다. 또한, 회사는 H.C. Wainwright & Co.와 함께 3년 유효한 주당 $3.00의 행사가격으로 1,346,669 주를 구매할 수 있는 비등록 워런트를 발행했습니다. 이 자금은 운영 자본 및 일반 기업 용도로 사용될 예정입니다. 이번 공모로 Gaxos는 2024년 12월까지 총 $9백만의 총 수익을 올리게 되었습니다.
Gaxos.ai Inc. (NASDAQ: GXAI) a réussi à clore une offre directe enregistrée de 1 346 669 actions à un prix de $3,00 par action, levant environ $4 millions de produit brut. L’entreprise a également émis des bons non enregistrés dans le cadre d’un placement privé concomitant pour acheter jusqu'à 1 346 669 actions à un prix d'exercice de $3,00 par action, valides pour trois ans. H.C. Wainwright & Co. a agi en tant qu'agent de placement exclusif. Les produits nets seront utilisés pour le fonds de roulement et les besoins généraux de l'entreprise. Cette offre porte le total des produits bruts levés par Gaxos en décembre 2024 à environ $9 millions.
Gaxos.ai Inc. (NASDAQ: GXAI) hat erfolgreich ein registriertes Direktangebot von 1.346.669 Aktien zu einem Preis von $3,00 pro Aktie abgeschlossen und dabei rund $4 Millionen an Bruttoerlösen erzielt. Das Unternehmen hat außerdem registrierte Warrants in einer gleichzeitigen Privatplatzierung ausgegeben, um bis zu 1.346.669 Aktien zu einem Ausübungspreis von $3,00 pro Aktie zu erwerben, gültig für drei Jahre. H.C. Wainwright & Co. fungierte als exklusiver Platzierungsagent. Die Nettoproceeds werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet. Dieses Angebot erhöht die Gesamtbruttoeinnahmen von Gaxos im Dezember 2024 auf etwa $9 Millionen.
- Raised $4 million in gross proceeds through share offering
- Total of $9 million raised in December 2024
- Warrants issued could provide additional future funding if exercised
- Share offering will cause dilution for existing shareholders
- Additional dilution possible if warrants are exercised
- Shares sold at market price without premium
Insights
This
The shelf registration approach provides flexibility for future capital raises, though the timing suggests urgency in securing funding. With a market cap of about
The dual-component structure of this transaction - combining a registered direct offering with a private placement of warrants - reflects a sophisticated approach to securities law compliance. The registered shares were offered under an effective S-3 shelf registration, providing immediate tradability, while the warrants were issued under Section 4(a)(2) and Regulation D exemptions, requiring a holding period. This structure is commonly used to expedite deals while managing registration costs.
The rapid effectiveness of the S-3 registration (December 18, just 6 days after filing) suggests the SEC found no major issues. However, investors should note the unregistered nature of the warrant shares creates a temporary illiquidity barrier. The company will likely need to file a registration statement to cover the warrant shares, adding future compliance costs and potential complications if not completed timely.
The offering's at-the-market pricing mechanism, while avoiding a traditional discount, comes with significant warrant coverage that could impact future trading dynamics. The total potential share count expansion, considering both direct shares and warrants, could increase the float by approximately 2.7 million shares - a substantial change for a micro-cap company. The
H.C. Wainwright's involvement as placement agent adds credibility but also signals the challenges in securing traditional equity financing. The company's focus on AI applications, while trendy, hasn't translated into strong market confidence as evidenced by the need for warrant sweeteners. The working capital use of proceeds, rather than specific growth initiatives, suggests defensive financial positioning rather than offensive expansion plans.
Gaxos.ai Inc. raises approximately
Roseland, NJ, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (Nasdaq: GXAI), (“Gaxos” or the “Company”), a company developing artificial intelligence applications across various sectors, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 1,346,669 shares of its common stock at a purchase price of
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The aggregate gross proceeds to the Company from the offering were approximately
The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-283758) filed with the Securities and Exchange Commission (“SEC”) on December 12, 2024, and became effective on December 18, 2024. The registered direct offering of the shares of common stock were made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the shares of common stock being offered in the registered direct offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.
The warrants described above were issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Gaxos.ai Inc.
Gaxos.ai isn’t just developing applications; its aim is to redefine the human-AI relationship. Our offerings are being expanded to include health and wellness, as well as gaming. We’re committed to addressing health, longevity, and entertainment, through AI solutions.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs and are subject to market and other conditions. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Forward-looking statements include statements regarding the use of proceeds from the offering. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.
Gaxos.ai Inc. Company Contact
Investor Relations
E: ir@gaxos.ai
T: 1-888-319-2499

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