Gaxos.ai Inc. Raises $3.6 Million in Gross Proceeds from Warrant Exercise Transaction
Gaxos.ai Inc. announced the closing of its previously disclosed exercise of outstanding warrants to purchase up to 3,007,654 shares of common stock at a reduced exercise price of $1.20 per share, generating approximately $3.6 million in gross proceeds. The shares are registered under effective Form S-1 and Form S-3 registration statements.
Why it matters — GXAI watchers would care because this transaction provides the company with new capital from warrant exercises without a new offering.