HOUSTON, Texas, June 27, 2024 (GLOBE NEWSWIRE) — Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the “Company” or “Nexalin”) today announced a public offering of 3,000,000 shares of its common stock at a public offering price of $1.75 per share. Gross proceeds, before deducting placement agent’s commissions and other offering expenses, are expected to be approximately $5,250,000.
Maxim Group LLC is acting as sole placement agent for the offering, which is expected to close on July 1, 2024, subject to customary closing conditions.
The securities described above were offered pursuant to a registration statement on Form S-1, as amended (File No. 333-279684) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (SEC) on June 27, 2024. The offering was made only by means of a prospectus that was part of the registration statement. A final prospectus relating to the offering will be filed with the SEC. Copies of the final prospectus relating to the offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, (212) 895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Nexalin Technology, Inc.
Nexalin designs and develops innovative neurostimulation products to combat the ongoing global mental health epidemic. All Nexalin products are believed to be non-invasive and undetectable to the human body and are developed to provide relief to people suffering from mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate deep structures in the midbrain that are associated with mental health disorders. Nexalin believes that the deeper penetrating waveforms of its next generation device will enhance patient response without side effects. The Nexalin Gen-2 15 milliamp neurostimulation device is approved in China, Brazil and Oman.
Additional information about our company can be found below: https://nexalin.com/
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including, but not limited to, statements that Nexalin or its management team “believes,” “expects,” “anticipates,” “plans,” “intends” or similar expressions) should be considered forward-looking statements that involve risks and uncertainties that may cause actual events or Nexalin’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements are subject to many conditions, many of which are beyond the Company’s control, including those described in the Risk Factors section of our Report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission. Copies of such filings may be obtained from the SEC’s website. Click here for detailsThese forward-looking statements speak only as of the date hereof and may become outdated over time, and the Company undertakes no obligation to update these statements with revisions or changes after the date hereof, except as required by law.
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