Nexalin Technology, Inc.

Nexalin Technology, Inc. (NXL) priced its initial public offering on Sep 19, 2022 at $4.15 per share, below its $6.00–$7.00 range, raising $9.6M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $30.2M. Maxim Group was lead-left underwriter. Warshaw Burstein advised the company and Nelson Mullins advised the underwriters.

Nexalin Technology, Inc. designs and develops neurostimulation products for mental health. Its Gen-1 device is a cranial electrotherapy stimulation device, classified as an FDA Class II device, that treats anxiety and insomnia without drugs or psychotherapy.

Status

IPO

Ticker

NXL

Exchange

Nasdaq Capital Market

Priced

Sep 19, 2022

IPO price

$4.15

Price range

$6.00–$7.00

Raised

$9.6M

Market cap at IPO price

$30.2M

First filed

Jan 4, 2022

Underwriters

Maxim Group

Company counsel

Warshaw Burstein

Underwriters' counsel

Nelson Mullins

Sector

Healthcare

Country / state

TX

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.