Roseland, NJ, Dec. 20, 2024 (GLOBE NEWSWIRE) — Gaxos.ai Inc. (Nasdaq: GXAI), (Gaxos or the Firm), an organization creating synthetic intelligence functions throughout numerous sectors, immediately introduced the closing of its beforehand introduced registered direct providing priced at-the-market underneath Nasdaq guidelines for the acquisition and sale of an combination of 1,449,277 shares of its frequent inventory at a purchase order value of $3.45 per share. As well as, in a concurrent non-public placement, the Firm issued unregistered warrants to buy as much as 1,449,277 shares of frequent inventory. The warrants have an train value of $3.32 per share, are exercisable upon issuance and expire three years following the date of issuance.  

H.C. Wainwright & Co. acted because the unique placement agent for the providing.

The combination gross proceeds to the Firm from the providing had been roughly $5 million, earlier than deducting the position agent charges and different providing bills payable by the Firm. The Firm intends to make use of the web proceeds from the providing for working capital and different normal company functions.

The warrants described above had been issued in a concurrent non-public placement underneath Part 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act), and Regulation D promulgated thereunder and, together with the shares of frequent inventory underlying the warrants, haven’t been registered underneath the Securities Act, or relevant state securities legal guidelines. Accordingly, the warrants and underlying shares of frequent inventory might not be provided or bought in the US besides pursuant to an efficient registration assertion or an relevant exemption from the registration necessities of the Securities Act and such relevant state securities legal guidelines.

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any of the securities described herein, nor shall there be any sale of those securities in any state or jurisdiction through which such supply, solicitation or sale could be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.

About Gaxos.ai Inc.

Gaxos.ai is not simply creating functions; it is goal is to redefine the human-AI relationship. Our choices are being expanded to incorporate well being and wellness, in addition to gaming. We’re dedicated to addressing well being, longevity, and leisure, via AI options.

Ahead-Wanting Statements

All statements aside from statements of historic truth on this announcement are forward-looking statements that contain recognized and unknown dangers and uncertainties and are based mostly on present expectations and projections about future occasions and monetary tendencies that the Firm believes could have an effect on its monetary situation, outcomes of operations, enterprise technique, and monetary wants and are topic to market and different circumstances. Buyers can establish these forward-looking statements by phrases or phrases akin to could, will, count on, anticipate, goal, estimate, intend, plan, imagine, potential, proceed, is/are prone to or different comparable expressions. Ahead-looking statements embrace statements relating to, using proceeds from the providing. The Firm undertakes no obligation to replace forward-looking statements to mirror subsequent occurring occasions or circumstances, or adjustments in its expectations, besides as could also be required by legislation. Though the Firm believes that the expectations expressed in these forward-looking statements are cheap, it can’t guarantee you that such expectations will turn into right, and the Firm cautions buyers that precise outcomes could differ materially from the anticipated outcomes and encourages buyers to assessment different elements that will have an effect on its future leads to the Firm’s filings with the SEC.

Gaxos.ai Inc. Firm Contact

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