Gaxos.ai Inc

Gaxos.ai closed a cash exercise of warrants covering up to 3.01 million shares, raising approximately $3.6 million in gross proceeds before fees and other offering expenses. The company allowed holders to exercise existing warrants at $1.20 per share, down from original exercise prices of $2.33 to $3.32. As part of the deal, Gaxos.ai issued new warrants covering up to 6.02 million shares, exercisable at $0.95 per share for three years once the resale registration becomes effective. Net proceeds will be used for working capital and general corporate purposes.