HOUSTON, TEXAS, Sept. 15, 2022 (GLOBE NEWSWIRE) — Nexalin Technology, Inc. (the “Company” or “Nexalin”) today announced the price of its initial public offering of 2,315,000 units consisting of 2,315,000 common shares and 2,315,000 accompanying warrants to purchase up to 2,315,000 common shares. Each common share is being sold, along with a warrant, to purchase each common share at an exercise price of $4.15 per share at a combined offering price of $4.15 for gross proceeds of approximately $9,607,250 million, gross of underwriting Offer discounts and fees. In addition, Nexalin has granted the underwriters a 45-day option to purchase up to 347,250 additional common shares and/or warrants to purchase up to 345,250 common shares to cover over-allotments at the IPO price less the underwriting discount. All common shares and warrants are offered by the Company.

The shares and warrants are expected to trade on the Nasdaq Capital Market Tier of the Nasdaq Stock Market (“Nasdaq”) and will trade on September 20, 2022 under the symbols “NXL” and “NXLIW”, respectively.

Maxim Group LLC is acting as sole book running manager in connection with the Offering. Warshaw Burstein, LLP is acting as legal counsel to the Company. Nelson Mullins Riley & Scarborough LLP is acting as legal counsel to Maxim Group LLC.

A Registration Statement on Form S-1 (File Number 333-261989) was filed with the Securities and Exchange Commission (“SEC”), effective September 15, 2022. A definitive prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offering is being made only by means of a prospectus, which forms part of the applicable registration statement. Electronic copies of the prospectus relating to this offering, where available, are available from Maxim…


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