bioAffinity Technologies Announces $4 Million Financing via Registered Direct Offering
bioAffinity Technologies (NASDAQ: BIAF) has entered into a definitive agreement for a registered direct offering and concurrent private placement, raising approximately $4 million in gross proceeds. The company will issue shares of common stock or pre-funded warrants at $6.122 per share to an institutional investor under Nasdaq rules. Additionally, the firm plans to sell warrants allowing the purchase of up to 980,072 additional shares at a similar price point. The offering is expected to close on October 9, 2026, with WallachBeth Capital acting as sole placement agent. bioAffinity intends to use the net proceeds for working capital and supporting sales growth of its noninvasive lung cancer test, CyPath® Lung. The transaction utilizes a previously filed shelf registration statement declared effective by the SEC in November 2023. The offering is subject to customary closing conditions and requires stockholder approval before warrant exercisability.
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