© Reuters. Nexalin Technology (NXL) IPO Opens Lower
Today’s IPO for Nexalin Technology, Inc. (NXL) opened for trading at $2.70 after pricing of 2,315,000 units consisting of 2,315,000 shares of its Common Stock and 2,315,000 accompanying warrants to purchase up to 2,315,000 shares of common stock. Each share of common stock is being sold together with one Warrant, each to purchase one share of common stock with an exercise price of $4.15 per share at a combined offering price of $4.15, for gross proceeds of approximately $9,607,250 million, before deducting underwriting discounts and offering expenses.
Maxim Group LLC is acting as the sole book-running manager in connection with the offering.
Nexalin designs and develops innovative neurostimulation products to uniquely and effectively help combat the ongoing global mental health epidemic. All of Nexalin’s products are non-invasive and undetectable and, critically, can provide relief to those afflicted with mental health issues without adverse side effects.
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