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The warrants issued by Nexalin Technology, Inc. (NASDAQ:NXL) in connection with its initial public offering expired on Monday at 5:00 PM Eastern Time. The micro-cap company, currently valued at $16.3 million with shares trading at $0.96, saw its warrants, which were exercisable for one share of common stock at an exercise price of $4.15, expire by their terms, according to a press release statement and a filing with the Securities and Exchange Commission.
Following the expiration, the Nasdaq Stock Market filed a Form 25 with the Securities and Exchange Commission to indicate that the warrants had expired and were delisted. The stock has shown significant volatility, with InvestingPro data revealing a 10% gain in the past week despite a substantial 61% decline over the previous six months.
Nexalin Technology’s common stock will continue to trade on the Nasdaq Capital Market under the symbol NXL. The company is incorporated in Delaware and is classified under electromedical and electrotherapeutic apparatus.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Nexalin Technology , Inc. held its annual meeting of shareholders, where key decisions were made regarding the company’s leadership and equity structure. Shareholders elected five directors to the board, including Leslie Bernhard, Mark White, David Owens, M.D., Alan Kazden, and Ben V. Hu, M.D. Each director received between approximately 6.1 million and 6.4 million votes in favor. Notably, there were no votes cast against the directors, although there were abstentions ranging from about 886,000 to 1.1 million shares. Additionally, changes to the equity plan were approved, although specific details on these changes were not disclosed. These developments reflect the company’s ongoing efforts to solidify its governance structure and align its equity strategy with shareholder interests.
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