Reported Earlier, Nexalin Technology Raises $5.25M Via Public Offering Of 3M Shares At $1.75/Share
Portfolio Pulse from Benzinga Newsdesk
Nexalin Technology, Inc. (NASDAQ:NXL) has announced a public offering of 3 million shares at $1.75 per share, raising approximately $5.25 million before fees and expenses. The offering is expected to close on July 1, 2024, with Maxim Group LLC acting as the sole placement agent.
June 28, 2024 | 7:23 am
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Nexalin Technology has announced a public offering of 3 million shares at $1.75 per share, raising approximately $5.25 million before fees and expenses. The offering is expected to close on July 1, 2024.
The public offering will dilute existing shareholders' equity, which typically leads to a short-term decrease in stock price. However, the raised capital could be used for growth initiatives, potentially benefiting the company in the long term.
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