Nexalin Technology Announces Closing of Previously Announced $5.0 Million Underwritten Public Offering
HOUSTON, May 06, 2025 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the 'Company' or 'Nexalin'), the leader in Deep Intracranial Frequency Stimulation (DIFS™) of the brain, today announced the closing of its previously announced underwritten public offering of 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 sole book-running manager for the offering.
The public offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-286711), previously filed with the U.S. Securities and Exchange Commission (the 'SEC') on April 23, 2025, and declared effective on April 29, 2025. The shares of common stock were offered only by means of a prospectus and prospectus supplement that form part of the effective registration statement. A final prospectus supplement describing the terms of the public offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the public offering may also be obtained by contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, or by telephone at (212) 895-3745.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 the 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 uniquely help combat the ongoing global mental health epidemic. All Nexalin's products are believed to be non-invasive and undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp neurostimulation device has been approved in China, Brazil, and Oman. Additional information about the Company is available at: https://nexalin.com/.
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