WallachBeth Capital LLC served as the sole placement agent for the deal, facilitating the sale of pre-funded warrants for 8,462,027 shares of common stock. Each unit, consisting of a pre-funded warrant and two accompanying warrants, carried a combined effective offering price of $0.4657. The pre-funded warrants carry an exercise price of $0.007 per share, while the accompanying warrants are priced at $0.4727 per share, subject to future stockholder approval.
In section Releases
bioAffinity Technologies Closes $4 Million Private Placement
With a strategic infusion of capital, Jersey City-based bioAffinity Technologies has finalized a private placement offering, securing approximately $4 million in gross proceeds. The biotechnology firm, which specializes in noninvasive early cancer detection, utilized the funding to bolster its market position through an at-the-market transaction under Nasdaq rules.
The transaction was executed under Section 4(a)(2) of the Securities Act of 1933. Because these securities were not registered, they cannot be resold in the U.S. without an effective registration statement or a valid exemption. bioAffinity Technologies intends to provide standard registration rights for the common stock underlying these warrants as part of the definitive agreement. The company plans to utilize the $4 million in gross proceeds to support its ongoing diagnostic research and operations, marking a significant step in its efforts to scale noninvasive cancer screening technologies.
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