Why Is Nexalin Technology (NXL) Stock Down 35% Today?

Nexalin Technology (NASDAQ:NXL) stock is down on Friday after the medical device company priced a public offering of its shares. Nexalin Technology is selling 3 million shares of NXL stock for $1.75 each in this public offering. This has the company expecting gross proceeds from the offering to come in at$5.25 million. Nexalin Technology notes that Maxim Group LLC is acting as the sole placement agent for the offering. The company is also expecting this offering to close on Monday. What This Means for NXL ...