Nexalin Technology Inc.

06/09/2025 | Press release | Distributed by Public on 06/09/2025 15:19

Material Event (Form 8-K)

Item 8.01. Other Events.

As previously reported on a Current Report on Form 8-K filed by Nexalin Technology, Inc. (the "Company") with the U.S. Securities and Exchange Commission on May 6, 2025, on May 4, 2025, the Company entered into an underwriting agreement with Maxim Group LLC (the "Representative"), pursuant to which the Company agreed to sell to the Representative, in a firm commitment public offering, 3,850,000 shares of the Company's common stock, par value $0.001 per share, for a public offering price of $1.30 per share. The Company also granted the Representative a 45-day over-allotment option to purchase up to 577,500 shares of the Company's common stock (the "Option Shares").

On June 5, 2025, the Representative partially exercised its option, and on June 6, 2025, the Company closed the offering of 240,000 of the Option Shares to the Representative, at a price of $1.30 per share, for aggregate gross proceeds of $312,000, less applicable underwriter discounts.

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