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WallachBeth Capital Announces Closing of bioAffinity Technologies $4 Million Registered Direct Financing of Common Stock and Concurrent Private Placement Priced At-The-Market Under Nasdaq Rules

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  • BioAffinity Technologies, Inc. closed a registered direct offering of common stock & pre-funded warrants at $6.122 per share or $6.115 per pre-funded warrant.
  • The company simultaneously completed a private placement of warrants for up to 980,072 shares at an exercise price of $6.122 per share.
  • Pre-funded warrants carry an exercise price of $0.007, while the separate warrants become exercisable only after stockholder approval.
  • Both warrant types will expire five years following stockholder approval.
  • WallachBeth Capital LLC acted as the sole placement agent for the transaction.
  • Gross proceeds totaled approximately $4 million before fees & expenses.
  • Net proceeds will fund working capital, support sales of the CyPath® Lung test, & cover general corporate purposes.
  • The offering was executed under an effective Form S-3 shelf registration statement filed with the SEC on November 27, 2023.