Nexalin Prices 3.85 Mln Public Offering At $1.30/shr; Stock Plunges In Pre-market

(RTTNews) - 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.