bioAffinity Technologies Completes $4 Million Financing via Registered Direct Offering
bioAffinity Technologies, Inc. (NASDAQ: BIAF) has completed a registered direct offering and concurrent private placement of common stock and warrants for approximately $4 million in gross proceeds before fees and expenses. The company sold shares at $6.122 per share to an institutional investor under Nasdaq rules, with pre-funded warrants priced slightly lower at $6.115 each. Additionally, the firm issued 980,072 warrants exercisable for common stock at $6.122 per share after shareholder approval and expiring five years later. The funds will be used to support working capital needs, anticipated growth in sales of CyPath® Lung—a noninvasive lung cancer test—and general corporate purposes. The offering was facilitated by WallachBeth Capital LLC as the sole placement agent using a previously filed shelf registration statement with the SEC declared effective on November 27, 2023. The company emphasized that this press release is not an offer to sell or solicitation of offers in jurisdictions where such actions would be unlawful without proper registration.
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