Gaxos.ai raises capital via discounted warrant conversions, adding liquidity without new share issuance.
Gaxos.ai (GXAI) completed a cash exercise of warrants for 3.01M shares, generating $3.6M in gross proceeds. The warrants were exercised at $1.20 per share, below typical market rates, to incentivize participation.
The move follows prior announcements of the warrant exercise program, aimed at bolstering the company’s capital position. No new shares were issued, as existing warrants were converted into equity.
The funds will support operational liquidity, though no immediate market reaction was disclosed.