newsfilter
← Latest News
Business Wire·

bioAffinity Technologies Announces Closing of $4M Private Placement Offering Priced At-the-Market Under Nasdaq Rules

BIAFBIAFW
  • bioAffinity Technologies, Inc. closed a private placement of pre-funded warrants to purchase 8,462,027 shares of common stock under Nasdaq at-the-market rules.
  • The combined effective offering price per pre-funded warrant & accompanying two warrants is $0.4657.
  • Pre-funded warrants carry an exercise price of $0.007 per share, while the accompanying warrants have an initial exercise price of $0.4727 per share.
  • Warrants will be exercisable following stockholder approval & will expire five years from the date of issuance.
  • Gross proceeds from the offering are estimated at approximately $4.0 million before fees & offering expenses.
  • WallachBeth Capital LLC served as the sole placement agent for the transaction.
  • The securities were issued via private placement under Section 4(a)(2) of the Securities Act & Regulation D without registration.
  • The company will provide customary registration rights for the common stock underlying the warrants subject to definitive transaction terms.
  • bioAffinity Technologies focuses on noninvasive diagnostics & early cancer detection, with its lead product being CyPath Lung.
  • CyPath Lung is marketed as a Laboratory Developed Test by Precision Pathology Laboratory Services, a subsidiary of the company.