secwatch.observer — SEC 8-K summary
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Issuer:     GAXOS.AI INC. (GXAI)
CIK:        0001895618
Form:       8-K
Filed at:   2024-09-23T23:59:59+00:00
Accession:  0001213900-24-081033
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gaxos.ai raises $3.24M via warrant exercise inducement; issues new warrants
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- Existing warrants for 1,256,734 shares exercised at reduced price of $2.58/share (original $5.50); gross proceeds $3.24M.
- Issued new Series A warrants (5.5-yr term) and Series B warrants (24-mo term) to purchase up to 2,513,468 shares at $2.33/share.
- H.C. Wainwright acted as placement agent; fees include 7.5% cash fee, 1% management fee, $85k expenses.
- New warrants unregistered; company to file resale registration statement within 30 days post-closing.
- Company agreed to no equity issuance for 30 days post-closing; variable rate transactions prohibited for 2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1895618/000121390024081033/0001213900-24-081033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1895618/000121390024081033/ea0215345-8k_gaxosaiinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-081033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer