other material
confidence high
sentiment neutral
materiality 0.60
Nexalin Technology closes IPO: 2.3M units at $4.15, gross proceeds $9.6M
Nexalin Technology, Inc.
- Offered 2,315,000 units (1 share + 1 warrant) at $4.15/unit; gross proceeds $9.6M, net ~$8.7M.
- Warrants exercisable at $4.15 for 3 years; redeemable at $0.01 if stock >$12.45 for 20 of 30 days.
- Maxim Group sole book-runner; shares and warrants trade on Nasdaq under NXL and NXLIW.
- Underwriters partially exercised overallotment, purchasing 347,250 additional warrants.