secwatch.observer — SEC 8-K summary
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Issuer:     Neuraxis, INC (NRXS)
CIK:        0001933567
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0001493152-24-021615
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neuraxis raises $3M via convertible notes at 8.5% interest; warrants amended
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- Issued ~$3M aggregate principal convertible notes to three institutional investors; 8.5% annual interest payable quarterly.
- Notes mature June 21, 2025; convert into Series B Preferred at $2.38/share after stockholder approval and certificate filing.
- Proceeds for working capital and corporate purposes; no dividends or payments to affiliates permitted.
- Holders of >70% of outstanding 2023 warrants agreed to waive anti-dilution rights in connection with the note issuance.
- Stockholder approval for Series B Preferred authorization not yet obtained; conversion delayed until approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224021615/0001493152-24-021615-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224021615/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-021615

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