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Gaxos Announces Exercise of Warrants for Approximately $3.6 Million Gross Proceeds
Roseland, NJ, Aug. 14, 2026 (GLOBE NEWSWIRE) -- --Gaxos.ai Inc. (“Gaxos” or the “Company”)(NASDAQ: GXAI), a company developing artificial intelligence applications across various high-growth sectors, today announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 3,007,654 shares originally issued in December 2024 and September 2024, having exercise prices ranging from $2.33 to $3.32 per share, at a reduced exercis
About this update from Gaxos.ai Inc.
Roseland, NJ, Aug. 14, 2026 (GLOBE NEWSWIRE) -- --Gaxos.ai Inc. ("Gaxos" or the "Company")(NASDAQ: GXAI), a company developing artificial intelligence applications across various high-growth sectors, today announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 3,007,654 shares originally issued in December 2024 and September 2024, having exercise prices ranging from $2.33 to $3.32 per share, at a reduced exercise price of $1.20 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statements on Form S-1 (No. 333-292709) and Form S-3 (File No. 333-282739). H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. In consideration for the immediate exercise of the warrants for cash, the Company will issue new unregistered warrants to purchase up to 6,015,308 shares of common stock. The new warrants will have an exercise price of $0.95 per share, will be exercisable immediately and will expire three years after the effective date of the Resale Registration Statement (as defined below). The aggregate gross proceeds to the Company from the offering are expected to be approximately $3.6 million, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about August 17, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act") and, along with the shares of common stock issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issuable upon exercise of the new warrants (the "Resale Registration Statement"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy the...