Gaxos.ai closes warrant exercise at reduced $1.2 per share
GXAI•Warrant exercise closes with $3.6 million gross proceeds
Gaxos closed a cash warrant exercise for 3,007,654 shares at a reduced exercise price of $1.2 per share.
The transaction generated about $3.6 million in gross proceeds for working capital and general corporate purposes.
In exchange, investors received new unregistered warrants for 6,015,308 shares, exercisable immediately at $0.95 per share.
The new warrants expire three years after the effective date of a planned resale registration statement covering shares issuable on exercise.
