On August 28, 2026, Carolyn Shelton departed her role as Senior Vice President of Quality, Regulatory, and Clinical Affairs at Nexalin Technology, Inc. The separation agreement provides for one month of continued base salary, a $20,000 bonus for 2026, accelerated vesting of unvested stock options, up to two years to exercise vested options, and health insurance premium subsidies through September 30, 2026. Ms. Shelton agreed to release claims against the company in exchange for these terms. Nexalin Technology operates in the medical device industry, developing neuromodulation therapies.

On August 21, 2026, Nexalin Technology, Inc. entered into a Note Purchase Agreement with an institutional investor to purchase an unsecured promissory note for gross proceeds of $1,000,000. The transaction included an original issue discount of $150,000 and reimbursement of $20,000 in transaction expenses, resulting in a total principal obligation of $1,170,000. The note matures six months after delivery of funds but allows for two three-month extensions with a 7.5% balance increase per extension. Mandatory prepayments are required upon subsequent fundraising, capped at 20% of proceeds or the outstanding balance. Default triggers include failure to pay or fundamental transactions without repayment, carrying an 18% annual interest rate and potential balance increases up to 25%. Nexalin Technology operates in the medical device industry, developing non-invasive neuromodulation therapies for neurological disorders.

On June 16, 2026, Nexalin Technology, Inc. adopted Second Amended and Restated Bylaws. Key changes include lowering the stockholder meeting quorum from a majority to one-third of outstanding voting power and replacing the prohibition on stockholder action by written consent with new procedures for action by consent without a meeting. The bylaws also revise advance notice procedures for director nominations to address Rule 14a-19, update board structure and director removal provisions, and establish a forum selection clause designating Delaware courts for internal corporate claims. The company operates in the medical technology industry, developing non-invasive therapeutic devices.