Eos Energy stock falls after Fuzzy Panda issues short report
Nexalin Technology, Inc. (NASDAQ:NXL), whose stock has declined over 30% in the past week according to InvestingPro data, announced Wednesday that it has amended its equity distribution agreement with Maxim Group LLC to increase the maximum aggregate offering price of its at-the-market (ATM) equity program from $3.1 million to $10 million. The amendment was entered into on Wednesday.
According to the company’s statement, as of Wednesday, approximately $4.27 million in shares remain available for sale under the expanded ATM program. The shares will be issued under Nexalin’s effective shelf registration statement on Form S-3 and the related prospectus supplement dated Wednesday.
The ATM program allows Nexalin to sell shares of its common stock from time to time through Maxim Group LLC as its exclusive sales agent. The company’s common stock is listed on the Nasdaq Stock Market under the symbol NXL.
Further details about the amended equity distribution agreement and the ATM program are included in the prospectus supplement filed with the Securities and Exchange Commission.
This information is based on a press release statement and the company’s SEC filing.
In other recent news, Nexalin Technology Inc. reported promising results from a clinical trial involving its brain stimulation technology for Alzheimer’s treatment. The company’s Gen-2 Nexalin Deep Intracranial Frequency Stimulation technology demonstrated significant cognitive improvements in patients with mild Alzheimer’s disease. This development was detailed in a study published in Radiology, where patients showed marked improvements in cognitive performance compared to a control group. Additionally, Nexalin Technology announced that its warrants, issued during its initial public offering, expired and were subsequently delisted from the Nasdaq Stock Market. The warrants, which had an exercise price of $4.15, expired as per their terms. In another development, Nexalin Technology held its annual shareholders’ meeting, where five directors were elected to the board. Leslie Bernhard, Mark White, David Owens, M.D., Alan Kazden, and Ben V. Hu, M.D., received substantial support, with no votes cast against their election. Shareholders also approved changes to the company’s equity plan during the meeting.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.