Gaxos.ai Inc. Raises $3.6 Million in Gross Proceeds from Warrant Exercise Transaction

Roseland, NJ, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (NASDAQ: GXAI), (“Gaxos” or the “Company”), a company developing artificial intelligence applications across various high-growth sectors, today announced the closing of its previously announced exercise of certain outstanding warrants to purchase up to an aggregate of 3,007,654 shares of common stock originally issued in December 2024 and September 2024, having exercise prices ranging from $2.33 to $3.32 per share, at a reduced exercise price of $1.20 per share. The shares of common stock issuable upon exercise of the existing warrants are registered pursuant to an effective registration statements on Form S-1 (No. 333-292709) and Form S-3 (File No. 333-282739).

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.