bioAffinity Technologies closes $4M private placement offering

bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW) has closed a private placement offering priced at-the-market under Nasdaq rules, raising approximately $4.0 million in gross proceeds before placement agent fees and other expenses.

The offering involved the sale of pre-funded warrants to purchase an aggregate of 8,462,027 shares of common stock at a combined effective offering price of $0.4657 per pre-funded warrant and two accompanying warrants. The pre-funded warrants carry an exercise price of $0.007 per share, while the accompanying warrants have an initial exercise price of $0.4727 per share.

The warrants will be exercisable following stockholder approval and will expire five years from the date of issuance. WallachBeth Capital LLC acted as sole placement agent for the transaction.

The securities were sold under Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D and have not been registered under federal or state securities laws. The company said it will provide customary registration rights for shares underlying the warrants, subject to the terms of the definitive transaction documents.

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