secwatch.observer — SEC 8-K summary
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Issuer:     Nexalin Technology, Inc. (NXL)
CIK:        0001527352
Form:       8-K
Filed at:   2026-08-21T21:20:17+00:00
Accession:  0001829126-26-009226
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nexalin raises $1.0M via $1.17M unsecured note; Nasdaq delisting hearing pending
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- Issued $1,170,000 unsecured note to Streeterville Capital, LLC for $1,000,000 gross proceeds (after $150K OID and $20K fees).
- Note matures in 6 months, bears no interest unless default; default interest accrues at 18% per annum.
- Mandatory prepayment of 20% of any future fundraising proceeds; two 3-month extensions add 7.5% each.
- Trigger events increase outstanding balance 10% (major) or 5% (minor), capped at 25% aggregate.
- Covenant acknowledges pending Nasdaq delisting hearing; company must remain listed or qualify under hearing stay.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527352/000182912626009226/0001829126-26-009226-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527352/000182912626009226/nexalintec_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-26-009226

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