Primis Financial: Maxim Group Initiates Coverage with Buy Rating and $1 PT.

Primis Financial: Maxim Group Initiates Coverage with Buy Rating and $1 PT.

Primis Financial, a leading financial services firm, has initiated coverage of Nexalin Technology (NXL) with a Buy rating and a price target of $1.00 per share. The rating and target were announced on May 12, 2025, following the company's recent public offering.

Nexalin Technology priced an underwritten public offering of 3,850,000 shares at $1.30 per share, raising approximately $5.0 million in gross proceeds. The offering is expected to close on or about May 6, 2025, subject to customary closing conditions. The company plans to use the net proceeds for working capital, sales and marketing activities, product development, and capital expenditures.

The Maxim Group, acting as the sole book-running manager, has expressed optimism about Nexalin's potential, citing the company's innovative technology and growth prospects in the market. The firm's analysis suggests that Nexalin's strong financial position and strategic focus on product development and market expansion position it well for future growth.

In light of these developments, Primis Financial has assigned a Buy rating to Nexalin Technology, reflecting confidence in the company's ability to execute its growth strategy and generate shareholder value. The $1.00 price target reflects the firm's valuation of Nexalin's potential future earnings and growth prospects.

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References:
1. [TheFly](https://www.tipranks.com/news/the-fly/nexalin-technology-prices-3-85m-shares-at-1-30-in-public-offering)
2. [Investing](https://www.investing.com/news/analyst-ratings/bofa-raises-rheinmetall-stock-target-to-eur1900-keeps-buy-rating-93CH-4038209)