Nexalin Technology, Inc. announced on May 6, 2025, the closing of its previously announced underwritten public offering. The company sold 3,850,000 shares of its common stock at a public offering price of $1.30 per share.
The gross proceeds from the offering to Nexalin were approximately $5.0 million, before deducting underwriting discounts and commissions and other offering expenses. Maxim Group LLC acted as the sole book-running manager for the offering.
Nexalin intends to use the net proceeds from this offering for working capital and other general corporate purposes. This includes funding sales and marketing activities, product development, and capital expenditures, which are essential for advancing its neurostimulation platform and strategic initiatives.
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