secwatch.observer — SEC 8-K summary
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Issuer:     Neuraxis, INC (NRXS)
CIK:        0001933567
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001493152-24-041597
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neuraxis cuts Flagstaff investment to $1.8M, raises $145k from new Series B preferred sale
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- Fourth Amendment reduces Flagstaff SPA total from $5M to $1.8M; $800k received, $1M due by Dec 31, 2024.
- New SPAs with multiple investors for 60,924 Series B Preferred shares at $2.38/share, aggregate $145k.
- Series B Preferred convertible into common at any time; dividend/liquidation rights expire June 30, 2025.
- Proceeds from the new SPAs to be used for working capital and general corporate purposes.
- Flagstaff SPA termination terms revised; automatic upon full payment or breach with cure through Jan 9, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224041597/0001493152-24-041597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224041597/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041597

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