BioAffinity closes $2.5M direct offering of 1.6M shares and 1.6M warrants at $1.5625/unit

bioAffinity Technologies, Inc.

Offering includes 1.6M shares (registered direct) and 1.6M common warrants (private placement) at combined $1.5625/share.
Warrants exercisable at $1.64 per share, subject to shareholder approval, expiring five years after approval date.
Gross proceeds ~$2.5M; net proceeds for working capital and general corporate purposes.
IPO warrant exercise price reduced to $3.0625 upon issuance of new shares and warrants.
WallachBeth Capital acted as sole placement agent; closing occurred March 8, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

bioAffinity Technologies, Inc. entered into Securities Purchase Agreement with four institutional investors valued at aggregate gross proceeds of approximately $2.5 million (effective 2024-03-06).

Action: entry
Agreement: equity purchase
Counterparty: four institutional investors
Value: aggregate gross proceeds of approximately $2.5 million
Effective: 2024-03-06

Exact text from the filing

On March 6, 2024, bioAffinity Technologies, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with four institutional investors (the "Purchasers"), pursuant to which the Company will issue to the Purchasers, (i) in a registered direct offering, 1,600,000 shares of the Company’s common stock (the "Shares"), par value $0.007 per share ("Common Stock") and (ii) in a concurrent private placement, warrants to purchase an aggregate of 1,600,000 shares of Common Stock (the "Common Warrants") with an exercise price of $1.64.

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bioAffinity Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009438

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