02:21 PM EDT, 05/05/2025 (MT Newswires) -- Nexalin Technology ( NXL ) shares fell over 23% in recent trading Monday after the company priced its underwritten public offering of 3.85 million shares at $1.30 per share.

The stock closed at $1.79 Friday.

Nexalin ( NXL ) said it has granted its underwriters a 45-day option to purchase up to 577,500 additional shares. Maxim Group is the book-running manager for the offering set to close Tuesday.

The company said it intends to use the net proceeds for working capital and other general corporate purposes.

Price: 1.37, Change: -0.42, Percent Change: -23.46