Gaxos.ai raises $3.6M through warrant exercise transaction

Gaxos.ai Inc. (NASDAQ: GXAI) raised approximately $3.6 million in gross proceeds through the exercise of outstanding warrants, the company announced Aug. 17, 2026.

The transaction involved the exercise of warrants to purchase up to 3,007,654 shares of common stock, originally issued in December 2024 and September 2024, at a reduced exercise price of $1.20 per share. The original exercise prices ranged from $2.33 to $3.32 per share.

In connection with the transaction, Gaxos.ai issued new unregistered warrants to purchase up to 6,015,308 shares of common stock. The new warrants are immediately exercisable at $0.95 per share and will expire three years after the effective date of a resale registration statement the company has agreed to file with the SEC.

The $3.6 million figure represents gross proceeds before placement agent fees and other offering expenses. The company stated it intends to use net proceeds for working capital and general corporate purposes.

H.C. Wainwright & Co. acted as exclusive placement agent for the transaction. The new warrants were issued in a private placement under an exemption from the registration requirements of the Securities Act of 1933.

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