Nexalin Technology closes $9.6M IPO; shares and warrants begin trading on Nasdaq

Nexalin Technology, Inc.

Closed IPO of 2,315,000 units at $4.15/unit (1 share + 1 warrant); gross proceeds $9.6M, net $8.7M.
Warrants exercisable at $4.15 for 3 years (until Sept 19, 2025); redeemable at $0.01 if stock >$12.45 for 20 of 30 days.
Maxim Group partially exercised overallotment, purchasing 347,250 warrants.
Gen-2 neurostimulation device approved in China by NMPA for insomnia and depression.
Shares (NXL) and warrants (NXLIW) began trading on Nasdaq on Sept 16, 2022.

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