Gaxos.AI Inc. Announces Reincorporation in the State of Nevada
Rhea-AI Summary
Gaxos.ai (Nasdaq: GXAI), an artificial intelligence applications developer, has announced its reincorporation from Delaware to Nevada. The reincorporation, which was approved by the board of directors and stockholders at the Annual Meeting on December 27, 2024, places the company under Nevada Revised Statutes.
The transition will not affect any existing contracts, business operations, management structure, or board composition. Stockholders will not need to exchange their current stock certificates, and the company's shares will continue trading on the Nasdaq Capital Market under the same 'GXAI' symbol.
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ROSELAND, NJ, March 04, 2025 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (Nasdaq: GXAI) (“the Company”), a company developing artificial intelligence applications across various sectors, today announced that the Company has reincorporated in the State of Nevada from State of Delaware (the "Reincorporation").
The Reincorporation was previously approved by the board of directors of the Company, and subsequently approved by the stockholders of the Company at the Company's Annual Meeting of stockholders held on December 27, 2024. The Company is now subject to the Nevada Revised Statutes.
The Reincorporation did not affect any of the Company’s contracts with any third parties, and the Company’s rights and obligations under such contractual arrangements continue to be rights and obligations of the Company after the Reincorporation. In addition, no changes have been made to the Board of Directors, management, business or operations of the Company as a result of the Reincorporation.
The Company will not be replacing nor will any Company stockholders be required to exchange their stock certificates for new stock certificates in connection with the Reincorporation.
The common stock of the Company will continue to be listed on the Nasdaq Capital Market under the same “GXAI” symbol.
About Gaxos.ai Inc.
Gaxos.AI isn't just developing applications; it's redefining the human-AI relationship. Our offerings span 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. 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. 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
FAQ
What does Gaxos.ai's reincorporation from Delaware to Nevada mean for GXAI shareholders?
When did GXAI stockholders approve the Nevada reincorporation?
Will GXAI's business operations change after moving from Delaware to Nevada?
Does GXAI's Nevada reincorporation affect its Nasdaq listing status?
