bioAffinity Technologies plans $4M stock offering on Nasdaq

bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) announced a registered direct offering of common stock priced at $6.122 per share, with expected gross proceeds of approximately $4 million before placement agent fees and other expenses.

The San Antonio-based biotechnology company said it entered into a definitive agreement with an institutional investor to sell shares of common stock, or pre-funded warrants in lieu thereof, at $6.115 per pre-funded warrant. The offering is priced at-the-market under Nasdaq rules.

In a concurrent private placement, the company will sell warrants to purchase up to 980,072 shares of common stock at an exercise price of $6.122 per share. The warrants will be exercisable following stockholder approval and will expire five years from the date of that approval. Pre-funded warrants carry an exercise price of $0.007 per share.

The closing of the offering is expected to occur on or about October 9, 2026, subject to customary closing conditions. WallachBeth Capital, LLC is serving as sole placement agent.

The company stated it intends to use net proceeds for working capital, to support expected sales growth for its CyPath® Lung noninvasive lung cancer test, and for general corporate purposes.

The common stock is being offered under a shelf registration statement on Form S-3 previously declared effective by the U.S. Securities and Exchange Commission on November 27, 2023.

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