Financing ·
GAXOS.AI INC. entered into an inducement offer letter agreement on August 14, 2026, with holders of existing warrants…
GXAIGaxos.AI Inc.
GAXOS.AI INC. entered into an inducement offer letter agreement on August 14, 2026, with holders of existing warrants issued in September and December 2024. Holders agreed to exercise these warrants for cash at a reduced price of $1.20 per share, resulting in the issuance of 3,007,654 shares and approximately $3.6 million in gross proceeds. In exchange, the Company issued new unregistered warrants to purchase up to 6,015,308 shares at an exercise price of $0.95 per share, with a three-year term. The transaction is expected to close on August 17, 2026, with net proceeds allocated for general corporate and working capital purposes. GAXOS.AI INC. develops artificial intelligence applications across consumer and enterprise markets.