secwatch.observer — SEC 8-K summary
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Issuer:     Neuraxis, INC (NRXS)
CIK:        0001933567
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0001493152-24-006888
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neuraxis raises $457k via convertible notes; amends Flagstaff $3M SPA
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- Entered SPAs with two accredited investors on Feb 9 & 14 for $457k aggregate; notes bear 8.5% interest, convertible to Series B Preferred at $2.38/share.
- Amended Nov 2023 SPA with Flagstaff International on Feb 12; Flagstaff will now receive convertible notes for $200k monthly installments until stockholder approval.
-  electrodes: Alexander Capital LP received 10% cash fee; net proceeds ~$400k for working capital and general corporate purposes.
- Stockholder approval for Series B Preferred authorization has not yet been sought; conversion of all notes is contingent on that approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224006888/0001493152-24-006888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224006888/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-006888

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