NeurAxis Files Amendment to Certificate of Designation of Preferences

Neuraxis, Inc. (NASDAQ:NRXS) submitted a Form 8-K with the United States Securities and Exchange Commission on November 15, 2024. The filing reported the amendment to the Certificate of Designation of Preferences, Rights, and Limitations of Series B Preferred Stock (“COD Amendment”).

The key modifications outlined in the COD Amendment include an increase in the authorized number of shares designated as “Series B Preferred Stock” from 4,000,000 to 5,000,000. Additionally, the right to dividends at a rate of 8.5% per annum was extended by 18 months, from June 30, 2025, to December 31, 2026. Furthermore, adjustments were made to the voting rights of stockholders of the Series B Preferred Stock, granting each holder the right to cast votes equivalent to the number of Common Stock shares into which their Series B Preferred Stock shares are convertible, based on a conversion price of $3.80.

The filing advised that the complete details of the COD Amendment are documented in Exhibit 3.1, which is attached to the Form 8-K. The accurate rendering of the COD Amendment can be referenced in this exhibit.

No additional amendments or changes were reported in the filing, which was duly signed by Brian Carrico, President, and Chief Executive Officer of Neuraxis, Inc., on November 21, 2024. Neuraxis, Inc. also clarified that it falls under the classification of an emerging growth company, as defined in Rule 405 of the Securities Act of 1933.

Investors and stakeholders can access further details regarding this amendment and related information on the Securities and Exchange Commission website under Neuraxis, Inc.’s filings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NeurAxis’s 8K filing here.

NeurAxis Company Profile

NeurAxis, Inc, a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome.