Neuraxis ups ATM capacity to $11.5M

Neuraxis, Inc. amends its prospectus supplement to increase its at-the-market offering capacity to up to $11,500,000 of Common Stock to be sold from time to time through Craig-Hallum Capital Group LLC under an existing Sales Agreement.

Rhea-AI Filing Summary

Neuraxis, Inc. amends its prospectus supplement to increase its at-the-market offering capacity to up to $11,500,000 of Common Stock to be sold from time to time through Craig-Hallum Capital Group LLC under an existing Sales Agreement.

The supplement states the company sold $5.8 million of securities under the Sales Agreement from August 29, 2025 through April 20, 2026. Preliminary unaudited results show cash and cash equivalents of approximately $7.1 million as of March 31, 2026, net sales of about $1.6 million for the three months ended March 31, 2026 (versus $0.9 million for the comparable prior-year period), preliminary gross profit of $1.4 million, and a preliminary operating loss of $1.7 million for that quarter. The filing discloses a public float of $66,876,930 based on 11,505,421 shares outstanding as of April 20, 2026.

Insights

Capital Markets Expert

ATM increase replenishes available shelf capacity for equity raises.

The company raised its At-The-Market capacity to $11.5M, permitting incremental sales through Craig-Hallum under the Sales Agreement. This adjusts the ceiling for primary sales available under General Instruction I.B.6 of Form S-3 and restates prior sale activity of $5.8M.

Actual future issuance depends on management decisions and market access; cash proceeds treatment and timing are determined by subsequent sales under the agreement.

Financial Reporting Expert

Quarterly provisional figures are preliminary and unaudited.

Management provides preliminary unaudited estimates: cash and cash equivalents ~ $7.1M, net sales ~ $1.6M, gross profit ~ $1.4M, and operating loss ~ $1.7M for the quarter ended March 31, 2026. These figures are subject to adjustment during financial close.

Independent auditors have not reviewed these estimates; final reported amounts may change and could be material.

Key Figures

ATM offering capacity: $11,500,000 Sales under agreement: $5,800,000 Cash and cash equivalents (prelim): $7,100,000 +4 more

7 metrics

ATM offering capacity $11,500,000 aggregate offering price under Sales Agreement

Sales under agreement $5,800,000 sold from August 29, 2025 through April 20, 2026

Cash and cash equivalents (prelim) $7,100,000 as of March 31, 2026 (preliminary unaudited)

Net sales (Q1 2026, prelim) $1,600,000 three months ended March 31, 2026 (preliminary unaudited)

Gross profit (Q1 2026, prelim) $1,400,000 three months ended March 31, 2026 (preliminary unaudited)

Operating loss (Q1 2026, prelim) $1,700,000 three months ended March 31, 2026 (preliminary unaudited)

Public float $66,876,930 based on 11,505,421 shares outstanding as of April 20, 2026

Key Terms

at-the-market offerings, General Instruction I.B.6 of Form S-3, public float, preliminary unaudited

4 terms

at-the-market offerings financial

"as sales agent, in “at-the market-offerings” as defined"

An at-the-market offering is a method for a company to sell new shares of its stock directly into the stock market over time, rather than all at once. This approach allows the company to raise money gradually, similar to selling small portions of a product as demand grows. For investors, it can influence stock availability and price, making it an important factor to consider when assessing a company's financial strategy.

General Instruction I.B.6 of Form S-3 regulatory

"calculated for purposes of General Instruction I.B.6 of Form S-3"

public float financial

"aggregate market value of our outstanding Common Stock held by non-affiliates"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

preliminary unaudited financial

"On a preliminary unaudited basis, we expect"

Preliminary unaudited means reported financial figures are an early, draft version that have not yet been checked and signed off by an independent auditor. Think of it like a first draft of a school report: it gives a useful snapshot of performance but may contain errors or adjustments before it becomes final. Investors care because numbers can change after review, so preliminary unaudited results carry more uncertainty when valuing a company or making trading decisions.

Offering Details

ATM

Offering

Offering Type ATM

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What offering size did Neuraxis (NRXS) register in this prospectus supplement?

The company increased its at-the-market capacity to $11,500,000, amending prior prospectus supplements to permit sales through Craig-Hallum under the Sales Agreement.

How much has Neuraxis sold under the Sales Agreement through April 20, 2026?

Neuraxis reports it sold $5.8 million of securities pursuant to the Sales Agreement from August 29, 2025 through April 20, 2026, as disclosed in the supplement.

What preliminary cash position did Neuraxis report for Q1 2026?

On a preliminary unaudited basis, management expects cash and cash equivalents to be approximately $7.1 million as of March 31, 2026, subject to final close adjustments.

What were Neuraxis' preliminary Q1 2026 sales and operating results?

Preliminary unaudited results show net sales of about $1.6 million for the three months ended March 31, 2026, gross profit ~ $1.4 million, and operating loss ~ $1.7 million.

What public float and outstanding shares did Neuraxis report?

The filing states a public float of $66,876,930 based on 11,505,421 shares outstanding as of April 20, 2026, using a reference price of $7.62.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/21/2026 - 05:18 PM Learn about SEC filing dates

Filed pursuant to Rule 424(b)(5)

Registration No. 333-283798

PROSPECTUS SUPPLEMENT

(To prospectus dated February 11, 2025)

NEURAXIS, INC.

Up to $11,500,000

Shares of Common Stock

This prospectus supplement amends, supplements and supersedes certain information contained in the prospectus supplements dated August 29, 2025 and October 23, 2025, respectively, and their accompanying prospectus dated February 11, 2025 (collectively, the “Existing Prospectus”), relating to the offer and sale of shares of our common stock, par value $0.001 per share (the “Common Stock”), having an aggregate offering price of up to $11,500,000 through Craig-Hallum Capital Group LLC (the “Sales Agent” or “Craig-Hallum”), as sales agent, in “at-the market-offerings” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, pursuant to the At the Market Offering Agreement with Craig-Hallum dated as of August 29, 2025 (the “Sales Agreement”). This prospectus supplement should be read in conjunction with the Existing Prospectus and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Existing Prospectus. This prospectus supplement is not complete, without, and may only be delivered or utilized in connection with, the Existing Prospectus, and any future amendments or supplements thereto.

From August 29, 2025 through April 20, 2026 we sold securities in the amount of $5.8 million pursuant to the Sales Agreement.

On a preliminary unaudited basis, we expect our cash and cash equivalents to be approximately $7.1 million as of March 31, 2026. On a preliminary unaudited basis, we expect our net sales to be approximately $1.6 million for the three months ended March 31, 2026, as compared to approximately $0.9 million for the three months ended March 31, 2025. On a preliminary unaudited basis, we expect our gross profit to be approximately $1.4 million, and our operating loss to be approximately $1.7 million, for the three months ended March 31, 2026. As we complete our quarter-end financial statement close process and finalize our financial statements and accompanying notes for the three months ended March 31, 2026, we will be required to make significant judgments in a number of areas that may result in the estimates provided herein being different than the final reported amounts.

These preliminary estimates have been prepared by and are the responsibility of our management. Our independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to these preliminary estimates or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. We expect to complete our financial statements for the three months ended March 31, 2026, subsequent to the filing of this prospectus supplement. It is possible that we or our independent registered public accounting firm may identify items that require us to make adjustments to these preliminary estimates and those changes could be material. Accordingly, undue reliance should not be placed on these preliminary estimates. The preliminary estimates are not necessarily indicative of any future period and should be read together with the risk factors incorporated by reference into this prospectus supplement.

As of April 20, 2026, the aggregate market value of our outstanding Common Stock held by non-affiliates (“public float”), calculated for purposes of General Instruction I.B.6 of Form S-3, was approximately $66,876,930, based on 11,505,421 shares of outstanding Common Stock as of April 20, 2026, of which 2,728,921 shares of Common Stock were held by affiliates, and a price of $7.62 per share, which was the price at which our Common Stock was last sold on the NYSE American on March 22, 2026 (the highest closing sale price within the sixty days prior to the date of this filing). Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell our Common Stock in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75,000,000. We have sold $10,791,458 of securities pursuant to General Instruction I.B.6. of Form S-3 during the prior 12 calendar month period that ends on and includes the date of this filing.

We are filing this prospectus supplement to amend the Existing Prospectus to update the amount of shares of Common Stock we are eligible to sell under our registration statement on Form S-3 under General Instruction I.B.6 and the Sales Agreement. Pursuant to this prospectus supplement, we are increasing the amount of shares of Common Stock we may offer and sell under the Sales Agreement to an aggregate offering price of up to $11,500,000 from time to time through Craig-Hallum.

Our Common Stock is listed on the NYSE American under the symbol “NRXS”. On April 20, 2026, the closing price of the Common Stock on the NYSE American was $7.00 per share.

Investing in our Common Stock involves a high degree of risk. Before making an investment decision, please read the information under the heading “Risk Factors” beginning on page S-9 of the Existing Prospectus and in the documents incorporated by reference in the Existing Prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement and the accompanying prospectus. Any representation to the contrary is a criminal offense.

Craig-Hallum

The date of this prospectus supplement is April 21, 2026.