Nexalin Technology, Inc. (NXL, NXLIW), a medical device company, on Monday announced the pricing of an underwritten public offering of 3,850,000 shares of its common stock at $1.30 per share. The offering is expected to close on or around May 6. The company expects to raise about $5 million from the offering.
Shares of Nexalin are decreasing by around 26% in the pre-market trading.
The company has also given underwriters a 45-day option to buy up to 577,500 more shares at the same public offering price, less the underwriting discounts and commissions.
In the pre-market trading, Nexalin is 26.26% lesser at $1.32 on the Nasdaq.
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