bioAffinity Technologies closes $4.8 million public offering

bioAffinity Technologies Inc. (NASDAQ: BIAF and BIAFW) completed a public offering that raised $4.8 million in gross proceeds before deducting agent fees and expenses, according to a statement from WallachBeth Capital LLC.

The biotechnology company, which focuses on noninvasive tests for early-stage cancer detection, sold 1,921,761 shares of common stock and pre-funded warrants at $2.50 per share. Pre-funded warrants were priced at $2.493 each with an exercise price of $0.007 per share.

WallachBeth Capital LLC served as the sole placement agent for the offering. The securities were offered through a registration statement on Form S-1 filed with the Securities and Exchange Commission.

Pre-funded warrants included in the offering are immediately exercisable for one share of common stock and will expire when exercised in full. Each pre-funded warrant was priced at $0.007 less than the common stock price.

The offering was conducted pursuant to SEC registration statement File No. 333-290480, which was previously declared effective. A final prospectus relating to the offering will be filed with the SEC and made available on the agency's website.

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