secwatch.observer — SEC 8-K summary
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Issuer:     GAXOS.AI INC. (GXAI)
CIK:        0001895618
Form:       8-K
Filed at:   2024-12-30T23:59:59+00:00
Accession:  0001213900-24-113225
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gaxos.ai raises $4M in registered direct offering at $3.00 per share
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- Gross proceeds of ~$4M from sale of 1,346,669 shares at $3.00 each; net proceeds ~$3.6M after fees.
- Concurrent private placement: 1,346,669 warrants at $3.00 exercise price, exercisable for 3 years.
- Annual meeting approves reduction in authorized shares from 50M to 25M and reincorporation to Nevada.
- H.C. Wainwright acts as placement agent, receiving 7.5% cash fee and 101,000 warrants at $3.75.
- Closing expected Dec 30, 2024; proceeds for working capital and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1895618/000121390024113225/0001213900-24-113225-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1895618/000121390024113225/ea0226143-8k_gaxosai.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-113225

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