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HOUSTON, TX, July 01, 2024 (GLOBE NEWSWIRE) -- Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the “Company” or “Nexalin”) today announced the closing of its previously announced public offering of 3,000,000 shares of common stock at public offering price of $1.75. Gross proceeds, before deducting placement agent fees and other offering expenses were approximately $5,250,000.
Maxim Group LLC acted as the sole placement agent for the offering.
The securities described above were offered pursuant to a registration statement on Form S-1, as amended (File No. 333-279684) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the "SEC") on June 27, 2024. The offering was made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering was filed with the SEC on June 28, 2024. Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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/.
FORWARD-LOOKING STATEMENTSThis press release contains statements that constitute "forward-looking statements," these statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and the Company's Report on Form 10-K for the year ended December 31, 2023 and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC's website, www.sec.gov. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact: Crescendo Communications, LLC Tel: (212) 671-1020 Email: NXL@crescendo-ir.com
Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the overall market and individual tickers.
Here is a look at the most-searched stocks on Benzinga Pro during the month of June. Current prices and year-to-date performances are based on June 30 and do not include dividends. April search results were not tracked.
Read Also: Nvidia Stock Split: What Investors Need To Know, What Past History Shows, What’s Next For Chip Giant
6. MicroAlgo Inc M
Honorable Mentions: The following stocks were the 11th to 20th most-searched tickers on Benzinga Pro in June 2024:
15. AMC Entertainment Holdings
17. Longeveron Inc L
Why It's Important: Nvidia regained the top spot for the most searched ticker after falling to second place in May. The stock, which has soared in value over the last year, has been the most searched ticker in three of the five months tracked by Benzinga Pro. Nvidia briefly became the most valuable company in the world during the month of June.
GameStop continued its surge in interest in the month of June, hitting second place. The stock was not among the top 20 most searched tickers in each of January, February and March. In May, the stock hit third place with the return of Roaring Kitty, aka Keith Gill, on social media, kicking off increased attention for the video game retailer and other meme stocks.
Super Micro Computer rejoined the top 10 list after falling to 14th in May. The stock has ranked in the top 11 in four of the five months tracked.
Micron Technology ranked seventh for the month, which marks a high for 2024 with a ranking in the top 20 only witnessed in one other month.
Stocks that fell out of the top 10 from May include AMC and Palantir, which remained in the top 15 most searched tickers. Faraday Future dropped out of the top 20 most searched tickers after ranking fifth in the month of May.
One of the biggest surprises may be the two newcomers to the top 10. MicroAlgo ranked sixth for the month with a 786% gain during the month. The stock has not ranked in the top 20 in any other month in 2024.
Actelis Networks ranked eighth for the month with shares gaining over 390%. The stock has not ranked in the top 20 in any other tracked month in 2024.
Ranking right outside the top 20 was Trump Media & Technology at 21st. The social media company, which was co-founded by former President Donald Trump has seen high levels of volatility related to the 2024 election and major news items for the former president.
Read Next:
Image created with a photo from Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
US stocks look set to open modestly higher in Friday's trading session as key inflation data released earlier in the morning met expectations and indicated inflation is slowing down.
Dow Jones Industrial Average futures were up 0.01%, S&P 500 futures were rising 0.2%, and Nasdaq futures were moving 0.3% higher.
Oil prices were rising, with front-month global benchmarks North Sea Brent crude gaining 0.2% to $85.46 per barrel and US West Texas Intermediate crude gaining 0.4% to $82.03 per barrel.
The core PCE index for May, which measures how consumers spend their money excluding seasonal food and energy prices, rose 0.1% as expected compared with April, when it increased 0.2%. On an annual basis, the index rose 2.6% compared with 2.7% the previous month, which also met analysts' expectations.
Later in the morning the Chicago purchasing managers' index, which gauges the economic health of the manufacturing sector in the Chicago area, will be released. The index is expected to rise to 39.7 in June from 35.4 the previous month, according to Bloomberg.
In other world markets, Japan's Nikkei rose 0.6%, Hong Kong's Hang Seng nudged 0.01% higher, and China's Shanghai Composite gained 0.7%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was rising 0.2%, while Germany's DAX was down 0.02% and France's CAC was down 0.9%.
In equities, shares of Cosmos Health jumped 91% in Friday's premarket session after it said Thursday it signed an exclusive distribution deal with Pharmalink for its Sky Premium Life products in the UAE. Ormat Technologies advanced 2%, after a 1.5% gain on Thursday. African Agriculture shares surged 38%, following a 3% loss the previous session. Carisma Therapeutics climbed 28% after it said late Thursday that it nominated an in vivo CAR-M targeting Glypican-3 as the first development candidate under its collaboration with Moderna . And Ocean Power Technologies' stock rose 44% after it said Thursday that it signed an Original Equipment Manufacturer agreement to provide maritime technology to Teledyne Technologies subsidiary Teledyne Marine.
On the losing side, shares of Elicio Therapeutics plunged 39% after it said late Thursday that it launched an underwritten public offering of its shares and accompanying warrants. Nexalin Technology shares tumbled 35% following an 8% gain on Thursday. Accolade shares shed 32% after analysts at Morgan Stanley and Truist cut their price targets on the stock. Inspire Veterinary Partners' I stock lost 21% after surging 64% the previous session. And shares of Nike dropped 16% following multiple analyst downgrades after it reported lower Q4 revenue late Thursday that missed Street expectations.
Elicio Therapeutics stock is falling on Friday after the clinical-stage biotechnology company announced a proposed public offering.
Elicio Therapeutics has announced its plans for a public offering that will include shares of ELTX stock, warrants to purchase additional shares and pre-funded warrants. What the company doesn’t reveal is the size and pricing of the offering.
Elicio Therapeutics says that it intends to use the funds from the offering for “the advancement of its development pipeline.” It will also use the money for working capital and general corporate purposes.
What This Means for ELTX Stock
With this public offering will come an increase in the total number of ELTX shares outstanding. That will also result in the stakes of current investors in Elicio Therapeutics being diluted. That helps explain why shares of ELTX stock are falling on Friday.
To go along with that, investors are likely wary about the pricing of the offering. While it hasn’t been announced yet, it’s likely to be below the current price of the company’s stock. This will likely result in further drops for ELTX shares once the price is announced.
ELTX stock is down 36.2% as of Friday morning. That comes with 18,000 shares traded, as compared to a daily average of about 46,000 shares.
We have more of the most recent stock market stories worth reading about on Friday!
Our coverage includes all of the hottest market news traders need to know about today! That includes everything happening with shares of Nexalin Technology stock, Cosmos Health stock and African Agriculture stock this morning. You can catch up on all of these matters by checking out the links below!
More Stock Market News for Friday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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