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

BIAFBIAFW
  • BioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) 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 for each pre-funded warrant and two accompanying warrants is $0.4657.
  • Pre-funded warrants carry an exercise price of $0.007 per share, while accompanying warrants have an initial exercise price of $0.4727 per share and expire five years from issuance.
  • Warrants become exercisable only following stockholder approval.
  • Gross proceeds from the offering are estimated at approximately $4.0 million before placement agent fees & other offering expenses.
  • WallachBeth Capital LLC served as the sole placement agent for the transaction.
  • The securities were sold in a private placement under Section 4(a)(2) of the Securities Act of 1933 & Regulation D, & are not registered under the Securities Act.
  • The Company will provide customary registration rights for the common stock underlying the warrants, subject to definitive transaction document terms.