bioAffinity Technologies raises $1.8 million in registered direct offering

bioAffinity Technologies Inc. (NASDAQ: BIAF) entered into agreements to sell 720,000 shares of common stock at $2.50 per share in a registered direct offering, according to a press release from WallachBeth Capital LLC.

The biotechnology company, which focuses on noninvasive tests for early-stage cancer detection, expects to raise approximately $1.8 million in gross proceeds before deducting placement agent fees and other expenses. The offering is expected to close on October 9, 2025, subject to customary closing conditions.

WallachBeth Capital LLC serves as the sole placement agent for the transaction. The shares are priced at-the-market under Nasdaq rules and have a par value of $0.007 per share.

bioAffinity Technologies plans to use the net proceeds for working capital, supporting expected growing sales for CyPath Lung, its noninvasive lung cancer test, and general corporate purposes.

The offering is conducted under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission, which was declared effective on November 27, 2023. A prospectus supplement describing the offering terms will be filed with the SEC.

WallachBeth Capital LLC is a broker-dealer that provides advisory and execution services for capital markets transactions, including initial public offerings, follow-on offerings, private placements, and at-the-market programs. The firm is a member of FINRA and SIPC.

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