NeurAxis, Inc. (NRXS) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Neuraxis, Inc. has engaged in a series of financial agreements to enhance its capital structure, including a deal with Flagstaff International for the sale of Series B Convertible Preferred Stock totaling $3 million, payable in monthly installments. Additionally, the company has issued convertible promissory notes to two accredited investors, raising $457,000 with an 8.5% annual interest rate, convertible into Series B Preferred Stock post-stockholder approval. The company also entered into Registration Rights Agreements, granting investors rights to request registration of their securities. In a subsequent amendment with Flagstaff International, similar terms were applied to their agreement, with one installment payment already completed. These strategic financial moves aim to bolster Neuraxis, Inc.’s working capital and support its corporate objectives.
For further insights into NRXS stock, check out TipRanks’ Stock Analysis page.
