Gaxos.ai Inc. announced the completion of a $3.6 million capital raise through the exercise of outstanding warrants. The transaction added 1.2 million common shares to the company's outstanding float.
The warrants, previously issued as part of earlier financing rounds, were exercised at a strike price of $3.00 per share. Proceeds will be allocated toward general corporate purposes, including potential acquisitions, R&D, and working capital needs.
The company did not disclose the identity of the warrant holders or the timing of the exercise. Gaxos.ai, a technology firm focused on AI-driven solutions, has not provided further details on the strategic implications of the capital infusion.
Shares of Gaxos.ai were not actively traded at press time, and the company has not commented on market impact. The warrant exercise increases the company's fully diluted share count by approximately 2.1% based on current outstanding shares.
