HOUSTON, TEXAS, Sept. 15, 2022 (GLOBE NEWSWIRE) — Nexalin Technology, Inc. (the “Company” or “Nexalin”) immediately introduced the pricing of its preliminary public providing of 2,315,000 models consisting of 2,315,000 shares of its Common Stock and 2,315,000 accompanying warrants to buy as much as 2,315,000 shares of widespread inventory. Each share of widespread inventory is being offered along with one Warrant, every to buy one share of widespread inventory with an train worth of $4.15 per share at a mixed providing worth of $4.15, for gross proceeds of roughly $9,607,250 million, earlier than deducting underwriting reductions and providing bills. In addition, Nexalin has granted the underwriters a 45-day choice to buy as much as an extra 347,250 shares of widespread inventory and/or Warrants to buy as much as 345,250 shares of widespread inventory to cowl over-allotments on the preliminary public providing worth, much less the underwriting low cost. All of the shares of widespread inventory and warrants are being provided by the Company.
The shares and warrants are anticipated to start buying and selling on the Nasdaq Capital Market tier of the Nasdaq Stock Market (“Nasdaq”) and can start buying and selling on September 20, 2022, beneath the symbols “NXL” and “NXLIW”, respectively.
Maxim Group LLC is appearing as the only book-running supervisor in reference to the providing. Warshaw Burstein, LLP is serving as authorized counsel to the Company. Nelson Mullins Riley & Scarborough LLP is serving as counsel to Maxim Group LLC.
A registration assertion on Form S-1 (File No. 333-261989) was filed with the Securities and Exchange Commission (“SEC”), which turned efficient on September 15, 2022. A ultimate prospectus regarding the providing shall be filed with the SEC and shall be out there on the SEC’s web site at http://www.sec.gov. The providing is being made solely by means of a prospectus forming half of the efficient registration assertion. Electronic copies of the prospectus regarding this providing, when out there, could also be obtained from Maxim Group LLC, 300 Park Avenue, sixteenth Floor, New York, New York 10022, at (212) 895-3745. Before investing on this providing, events ought to learn in its entirety the registration assertion that the Company has filed with the SEC, which offers extra details about the Company and this providing.
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of these securities in any state or jurisdiction through which such a proposal, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.
About Nexalin Technology, Inc.
Nexalin designs and develops progressive neurostimulation merchandise to uniquely and successfully assist fight the continued world psychological well being epidemic. All of Nexalin’s merchandise are non-invasive and undetectable and, critically, can present aid to these with psychological well being points with out opposed unwanted effects. Nexalin beforehand developed an easy-to-administer medical machine — known as Generation 1 or Gen-1 — that makes use of bioelectronic medical know-how to deal with anxiousness and insomnia, with out the necessity for medication or psychotherapy. Nexalin has designed and developed new superior waveform know-how emitted at 15 milliamps by way of our current medical machine improved with a contemporary enclosure — known as Generation 2 or Gen-2 — which might penetrate deeper into the mind and the related constructions of psychological sickness, which Nexalin believes will generate enhanced affected person response. The Gen-2 machine was just lately authorized in China by the National Medical Products Administration (NMPA) for the remedy of insomnia and melancholy in China. In September 2018, Nexalin entered right into a sequence of agreements with Wider Come Limited, an organization fashioned beneath the legal guidelines of the People’s Republic of China (“Wider”), pursuant to which Nexalin and Wider have agreed to kind a three way partnership entity to be domiciled in Hong Kong to conduct a portion of our medical analysis and implement a business distribution plan for our units in China, Macau, Hong Kong, and Taiwan. Additional details about the Company is obtainable at: https://nexalin.com/.
FORWARD-LOOKING STATEMENTS
This press launch comprises statements that represent “forward-looking statements,” together with with respect to the Company’s preliminary public providing. No assurance may be provided that the providing mentioned above shall be accomplished on the phrases described, or in any respect. Forward-looking statements are topic to quite a few circumstances, many of that are past the management of the Company, together with these set forth within the Risk Factors part of the Company’s registration assertion and preliminary prospectus for the providing filed with the SEC. Copies can be found on the SEC’s web site, www.sec.gov. The Company undertakes no obligation to replace these statements for revisions or adjustments after the date of this launch, besides as required by regulation.
Contact:
Crescendo Communications, LLC
Tel: (212) 671-1020
Email: [email protected]
