STOCK TITAN

[8-K] Nexalin Technology, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Bank of Nova Scotia (BNS) has disclosed a new 5.85% passive stake in Auna S.A. (CUSIP L0415A103) via a Schedule 13G. The Canadian bank reports beneficial ownership of 1,759,221 common shares as of 30 Jun 2025, giving it sole voting and dispositive power over the full position and no shared voting or dispositive rights. The filing, made under Rule 13d-1(b) as a financial institution/parent holding company, signals that the shares were acquired in the ordinary course of business and not to influence control of the Luxembourg-based healthcare company. The ownership threshold crossed the 5% mark, triggering the reporting requirement.

The certification is signed by Raj Sachdeva, Vice President & Head of GBM&T Compliance Canada, on 21 Jul 2025. No additional parties, subsidiaries, or group arrangements are identified, and there is no indication of intent to engage in activist activity.

Bank of Nova Scotia (BNS) ha comunicato una nuova partecipazione passiva del 5,85% in Auna S.A. (CUSIP L0415A103) tramite un Schedule 13G. La banca canadese dichiara la proprietà effettiva di 1.759.221 azioni ordinarie al 30 giugno 2025, detenendo il pieno potere di voto e decisionale sull'intera posizione, senza diritti di voto o decisionali condivisi. La dichiarazione, presentata ai sensi della Regola 13d-1(b) come istituzione finanziaria/società madre, indica che le azioni sono state acquisite nell'ordinaria attività commerciale e non per influenzare il controllo della società sanitaria con sede in Lussemburgo. La soglia del 5% è stata superata, attivando l'obbligo di comunicazione.

La certificazione è firmata da Raj Sachdeva, Vicepresidente e Responsabile della conformità GBM&T Canada, il 21 luglio 2025. Non sono state identificate altre parti, controllate o accordi di gruppo, né vi è indicazione di intenzioni di intraprendere attività di attivismo.

Bank of Nova Scotia (BNS) ha revelado una nueva participación pasiva del 5,85% en Auna S.A. (CUSIP L0415A103) mediante un Schedule 13G. El banco canadiense reporta la propiedad beneficiaria de 1,759,221 acciones comunes al 30 de junio de 2025, otorgándole el control exclusivo de voto y disposición sobre la posición completa, sin derechos compartidos de voto o disposición. La presentación, realizada bajo la Regla 13d-1(b) como institución financiera/empresa matriz, indica que las acciones fueron adquiridas en el curso ordinario del negocio y no para influir en el control de la empresa sanitaria con sede en Luxemburgo. Se superó el umbral del 5%, activando la obligación de reporte.

La certificación está firmada por Raj Sachdeva, Vicepresidente y Jefe de Cumplimiento GBM&T Canadá, el 21 de julio de 2025. No se identificaron partes adicionales, subsidiarias o acuerdos grupales, ni hay indicios de intención de realizar actividades activistas.

Bank of Nova Scotia (BNS)는 Schedule 13G를 통해 Auna S.A. (CUSIP L0415A103)에 대한 새로운 5.85% 수동 지분을 공개했습니다. 캐나다 은행은 2025년 6월 30일 기준으로 1,759,221 보통주에 대한 실질 소유권을 보고하며, 전체 지분에 대해 단독 투표권 및 처분권을 보유하고 있으며 공유된 투표권이나 처분권은 없습니다. 금융기관/모회사로서 규칙 13d-1(b)에 따라 제출된 이 문서는 룩셈부르크 기반 의료 회사의 지배권에 영향을 미치기 위한 것이 아니라 일상적인 사업 과정에서 주식을 취득했다는 신호입니다. 소유권 기준선이 5%를 넘으면서 보고 의무가 발생했습니다.

인증서는 2025년 7월 21일 캐나다 GBM&T 컴플라이언스 부서 부사장 겸 책임자인 Raj Sachdeva가 서명했습니다. 추가 당사자, 자회사 또는 그룹 협약은 확인되지 않았으며, 행동주의 활동 의도도 나타나지 않았습니다.

La Banque de Nouvelle-Écosse (BNS) a révélé une nouvelle participation passive de 5,85% dans Auna S.A. (CUSIP L0415A103) via un Schedule 13G. La banque canadienne déclare une propriété bénéficiaire de 1 759 221 actions ordinaires au 30 juin 2025, lui conférant un pouvoir exclusif de vote et de disposition sur l'intégralité de la position, sans droits de vote ou de disposition partagés. Le dépôt, effectué conformément à la règle 13d-1(b) en tant qu'institution financière/société mère, indique que les actions ont été acquises dans le cours normal des affaires et non dans le but d'influencer le contrôle de la société de santé basée au Luxembourg. Le seuil de détention de 5% a été franchi, déclenchant l'obligation de déclaration.

La certification est signée par Raj Sachdeva, vice-président et responsable de la conformité GBM&T Canada, le 21 juillet 2025. Aucune autre partie, filiale ou arrangement de groupe n'a été identifié, et aucune intention d'engager une activité activiste n'a été signalée.

Die Bank of Nova Scotia (BNS) hat über ein Schedule 13G eine neue passive Beteiligung von 5,85% an Auna S.A. (CUSIP L0415A103) offengelegt. Die kanadische Bank meldet den wirtschaftlichen Eigentum an 1.759.221 Stammaktien zum 30. Juni 2025 und besitzt alleinige Stimm- und Verfügungsgewalt über die gesamte Position, ohne geteilte Stimm- oder Verfügungsrechte. Die Meldung, eingereicht gemäß Regel 13d-1(b) als Finanzinstitut/Muttergesellschaft, signalisiert, dass die Aktien im gewöhnlichen Geschäftsverlauf und nicht zur Einflussnahme auf die Kontrolle des in Luxemburg ansässigen Gesundheitsunternehmens erworben wurden. Die Besitzschwelle von 5% wurde überschritten, was die Meldepflicht auslöst.

Die Bescheinigung wurde am 21. Juli 2025 von Raj Sachdeva, Vice President & Head of GBM&T Compliance Canada, unterzeichnet. Es wurden keine weiteren Parteien, Tochtergesellschaften oder Gruppeneinrichtungen identifiziert, und es gibt keine Hinweise auf Absichten, aktivistische Aktivitäten durchzuführen.

Positive
  • Institutional validation: A respected global bank now owns 5.85% of AUNA, potentially increasing market confidence.
  • Improved liquidity: Larger institutional holding may support trading volumes and share price stability.
Negative
  • None.

Insights

TL;DR: BNS quietly accumulates 5.9% of AUNA, signaling institutional confidence but no control intent—neutral to mildly positive for liquidity.

The disclosure introduces a sizable, reputable shareholder to AUNA’s register. While passive, BNS’s 1.76 m-share position can improve float liquidity and expand analyst coverage. Because no activist agenda is signaled and the stake sits just above the 5% threshold, immediate strategic impact is limited. Nonetheless, institutional validation may support valuation multiples and ease future capital-market activity. The event is moderately impactful but not transformative.

TL;DR: Governance impact minimal—stake is passive, no group ties, no board influence sought.

BNS files under Rule 13d-1(b), affirming a passive investment stance. Sole voting/dispositive power centralizes decision rights but the bank disclaims any intent to alter control. With no associated group or subsidiaries listed, change-of-control risk is negligible. From a governance lens, the filing merely increases transparency of ownership concentration and does not trigger defensive measures.

Bank of Nova Scotia (BNS) ha comunicato una nuova partecipazione passiva del 5,85% in Auna S.A. (CUSIP L0415A103) tramite un Schedule 13G. La banca canadese dichiara la proprietà effettiva di 1.759.221 azioni ordinarie al 30 giugno 2025, detenendo il pieno potere di voto e decisionale sull'intera posizione, senza diritti di voto o decisionali condivisi. La dichiarazione, presentata ai sensi della Regola 13d-1(b) come istituzione finanziaria/società madre, indica che le azioni sono state acquisite nell'ordinaria attività commerciale e non per influenzare il controllo della società sanitaria con sede in Lussemburgo. La soglia del 5% è stata superata, attivando l'obbligo di comunicazione.

La certificazione è firmata da Raj Sachdeva, Vicepresidente e Responsabile della conformità GBM&T Canada, il 21 luglio 2025. Non sono state identificate altre parti, controllate o accordi di gruppo, né vi è indicazione di intenzioni di intraprendere attività di attivismo.

Bank of Nova Scotia (BNS) ha revelado una nueva participación pasiva del 5,85% en Auna S.A. (CUSIP L0415A103) mediante un Schedule 13G. El banco canadiense reporta la propiedad beneficiaria de 1,759,221 acciones comunes al 30 de junio de 2025, otorgándole el control exclusivo de voto y disposición sobre la posición completa, sin derechos compartidos de voto o disposición. La presentación, realizada bajo la Regla 13d-1(b) como institución financiera/empresa matriz, indica que las acciones fueron adquiridas en el curso ordinario del negocio y no para influir en el control de la empresa sanitaria con sede en Luxemburgo. Se superó el umbral del 5%, activando la obligación de reporte.

La certificación está firmada por Raj Sachdeva, Vicepresidente y Jefe de Cumplimiento GBM&T Canadá, el 21 de julio de 2025. No se identificaron partes adicionales, subsidiarias o acuerdos grupales, ni hay indicios de intención de realizar actividades activistas.

Bank of Nova Scotia (BNS)는 Schedule 13G를 통해 Auna S.A. (CUSIP L0415A103)에 대한 새로운 5.85% 수동 지분을 공개했습니다. 캐나다 은행은 2025년 6월 30일 기준으로 1,759,221 보통주에 대한 실질 소유권을 보고하며, 전체 지분에 대해 단독 투표권 및 처분권을 보유하고 있으며 공유된 투표권이나 처분권은 없습니다. 금융기관/모회사로서 규칙 13d-1(b)에 따라 제출된 이 문서는 룩셈부르크 기반 의료 회사의 지배권에 영향을 미치기 위한 것이 아니라 일상적인 사업 과정에서 주식을 취득했다는 신호입니다. 소유권 기준선이 5%를 넘으면서 보고 의무가 발생했습니다.

인증서는 2025년 7월 21일 캐나다 GBM&T 컴플라이언스 부서 부사장 겸 책임자인 Raj Sachdeva가 서명했습니다. 추가 당사자, 자회사 또는 그룹 협약은 확인되지 않았으며, 행동주의 활동 의도도 나타나지 않았습니다.

La Banque de Nouvelle-Écosse (BNS) a révélé une nouvelle participation passive de 5,85% dans Auna S.A. (CUSIP L0415A103) via un Schedule 13G. La banque canadienne déclare une propriété bénéficiaire de 1 759 221 actions ordinaires au 30 juin 2025, lui conférant un pouvoir exclusif de vote et de disposition sur l'intégralité de la position, sans droits de vote ou de disposition partagés. Le dépôt, effectué conformément à la règle 13d-1(b) en tant qu'institution financière/société mère, indique que les actions ont été acquises dans le cours normal des affaires et non dans le but d'influencer le contrôle de la société de santé basée au Luxembourg. Le seuil de détention de 5% a été franchi, déclenchant l'obligation de déclaration.

La certification est signée par Raj Sachdeva, vice-président et responsable de la conformité GBM&T Canada, le 21 juillet 2025. Aucune autre partie, filiale ou arrangement de groupe n'a été identifié, et aucune intention d'engager une activité activiste n'a été signalée.

Die Bank of Nova Scotia (BNS) hat über ein Schedule 13G eine neue passive Beteiligung von 5,85% an Auna S.A. (CUSIP L0415A103) offengelegt. Die kanadische Bank meldet den wirtschaftlichen Eigentum an 1.759.221 Stammaktien zum 30. Juni 2025 und besitzt alleinige Stimm- und Verfügungsgewalt über die gesamte Position, ohne geteilte Stimm- oder Verfügungsrechte. Die Meldung, eingereicht gemäß Regel 13d-1(b) als Finanzinstitut/Muttergesellschaft, signalisiert, dass die Aktien im gewöhnlichen Geschäftsverlauf und nicht zur Einflussnahme auf die Kontrolle des in Luxemburg ansässigen Gesundheitsunternehmens erworben wurden. Die Besitzschwelle von 5% wurde überschritten, was die Meldepflicht auslöst.

Die Bescheinigung wurde am 21. Juli 2025 von Raj Sachdeva, Vice President & Head of GBM&T Compliance Canada, unterzeichnet. Es wurden keine weiteren Parteien, Tochtergesellschaften oder Gruppeneinrichtungen identifiziert, und es gibt keine Hinweise auf Absichten, aktivistische Aktivitäten durchzuführen.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 17, 2025

 

NEXALIN TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-41507   27-5566468
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

1776 Yorktown, Suite 550

Houston, TX 77056

Registrant’s telephone number, including area code: (832) 260-0222

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.001 per share   NXL   The Nasdaq Stock Market LLC
         
Warrants, each exercisable for one share of Common Stock   NXLIW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 

 

   

 

 

Item 5.02 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Employment Agreement with Justin Van Fleet

 

On July 17, 2025, Nexalin Technology, Inc. (the “Company”) and Justin Van Fleet entered into an employment agreement (the “Employment Agreement”), pursuant to which Mr. Van Fleet agreed to serve as the Chief Financial Officer of the Company, with the first date of employment to commence on August 1, 2025 (the “Commencement Date”). Prior to joining the Company, Mr. Van Fleet, a certified public accountant, was a partner at Marcum LLP and predecessor firm Friedman LLP. Pursuant to the Employment Agreement, Mr. Van Fleet will receive an annual base salary of $250,000. He will also receive a onetime grant of (x) 25,000 of unregistered shares of the Common Stock of the Company and (y) a stock option exercisable into 130,435 shares of the Company’s common stock on the grant date, each of the unregistered shares and stock option are subject to the terms of the Company’s 2023 Equity Incentive Plan, as amended. One half of the stock option will vest on the six-month anniversary of the Commencement Date, and the other one half of the option will vest on the one-year anniversary of such date. The Employment Agreement for Mr. Van Fleet provides for two discretionary bonus payments, both in the amount of $20,000 and determined, respectively, on the basis that Mr. Van Fleet shall remain employed with the Company through the end of 2025 and the term of the Employment Agreement of one year.

 

The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to its full text, a copy which is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)Exhibits.

 

Exhibit Number   Description
10.1   Employment Agreement, dated July 17, 2025, by and between Nexalin Technology, Inc. and Justin Van Fleet

 

 1 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NEXALIN TECHNOLOGY, INC.
   
  By: /s/ Mark White
    Mark White
    Chief Executive Officer

 

Dated: July 21, 2025

 

 2 

FAQ

How many AUNA shares does Bank of Nova Scotia own?

The bank reports beneficial ownership of 1,759,221 common shares.

What percentage of AUNA's outstanding stock does this represent?

The position equals 5.85378% of the outstanding common shares.

Is Bank of Nova Scotia seeking control of AUNA S.A.?

No. The filing is passive under Rule 13d-1(b) and explicitly states no intent to influence control.

Does the bank share voting or dispositive power with others?

No. It holds sole voting and dispositive power over all reported shares.

When was the ownership threshold crossed?

The relevant event date is 30 June 2025, with the filing signed on 21 July 2025.
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