Recent Updates — NXLIW
Nexalin Technology entered into a Securities Purchase Agreement to issue and sell 2,419,355 shares of common stock at $0.31 per share in a registered direct offering, generating approximately $750,000 in gross proceeds. Concurrently, the company issued warrants to purchase up to 1,209,677 shares at an exercise price of $0.50 per share. The company also executed an Any Market Purchase Agreement with Alumni Capital LP, providing access to up to $15 million in capital through future purchases, subject to a $300,000 commitment fee payable in cash or equity. Maxim Group LLC served as the financial advisor for a $100,000 fee. The registered offering is expected to close on August 20, 2026. Nexalin Technology operates in the medical device industry, developing neuromodulation therapies for chronic pain management.
Nexalin Technology, Inc. received a notice from Nasdaq on August 14, 2026, indicating it no longer satisfies the minimum stockholders' equity requirement of $2,500,000, citing reported equity of $1,519,423 in its June 30, 2026 Form 10-Q. This deficiency adds to a previously issued delisting notice regarding failure to meet the minimum bid price requirement. The company has requested a hearing before a Nasdaq Hearing Panel scheduled for September 1, 2026, to appeal both deficiencies. The filing warns that delisting could materially adversely affect liquidity and capital-raising ability. Nexalin Technology operates in the biotechnology industry, focusing on neuromodulation therapies.
Nexalin Technology, Inc. received a Staff Determination letter from Nasdaq on July 24, 2026, stating the company failed to regain compliance with the $1.00 minimum bid price requirement. The company is ineligible for a second 180-day compliance period because it does not meet the $5,000,000 minimum stockholders' equity initial listing requirement. Consequently, Nasdaq intends to delist the company's securities and suspend trading on August 4, 2026. The company has timely requested a hearing before a Nasdaq Hearings Panel to appeal this determination. Nexalin Technology, Inc. is a technology company.