other_material
confidence high
sentiment negative
materiality 0.70
XMax raises $35.96M via registered direct offering of 8.5M shares at $4.23/share
XMax Inc.
- 8,500,000 shares sold at $4.23 per share, aggregate gross proceeds of $35,955,000.
- Per share purchase price equals ~70% of prior trading day's closing price on Nasdaq.
- Offering executed under effective shelf registration statement (File No. 333-274970) declared effective Oct 23, 2023.
- Net proceeds after offering expenses not specified; closing subject to customary conditions.