bioAffinity Technologies Secures $3.25 Million Offering Support
bioAffinity Technologies Opens New Funding Opportunities
WallachBeth Capital LLC, an esteemed provider of capital markets and execution services, has recently played a crucial role in facilitating a significant financial offering by bioAffinity Technologies, Inc. (NASDAQ: BIAF). This biotechnology firm is dedicated to developing noninvasive tests aimed at early-stage cancer detection. The current offering is a strategic move to raise a total of $3.25 million, designed to support the company's innovative healthcare solutions.
Structure of the Offering
The offering comprises approximately 10,156,250 shares of Common Stock or pre-funded warrants, along with warrants that initially allow for the purchase of up to 15,234,375 shares of Common Stock. This comprehensive package provides investors with an attractive entry point, as the public offering price is set at $0.32 per share or pre-funded warrant, accompanied by the respective warrants.
Projected Use of Funds
With the anticipation of this offering closing soon, bioAffinity Technologies plans to utilize these funds to bolster its research and development efforts. The company's focus remains steadfast on enhancing early-stage cancer detection capabilities, thereby addressing critical needs within the healthcare industry. The implications of these advancements are expected to significantly improve patient outcomes.
Role of WallachBeth Capital
In this transaction, WallachBeth Capital serves as the sole placement agent, highlighting its commitment to connecting innovative companies with essential capital. This partnership showcases the firm’s expertise in navigating complex market conditions and delivering tailored financial solutions to its clients.
About WallachBeth Capital LLC
WallachBeth Capital is distinguished for providing a comprehensive range of capital markets and investment banking services specifically to the healthcare sector. The firm excels in aligning corporate clients with top-tier institutions, aiding in the fulfillment of financial objectives through initial public offerings, PIPE offerings, and various private transactions. With a dedicated team and a deep understanding of market dynamics, WallachBeth Capital stands at the forefront of investment opportunities within this vital industry.
Frequently Asked Questions
What is the purpose of the $3.25 million offering?
The funds are aimed at enhancing bioAffinity Technologies' research in noninvasive cancer detection tests.
Who acted as the placement agent for this offering?
WallachBeth Capital LLC acted as the sole placement agent for this offering.
What is the pricing structure of the offering?
The offering is priced at $0.32 per share or pre-funded warrant, alongside accompanying warrants.
What is the significance of noninvasive cancer tests?
Noninvasive tests provide early-stage cancer detection, which is essential for improving treatment outcomes and patient survival rates.
What range of services does WallachBeth Capital provide?
WallachBeth Capital offers capital markets services, investment banking solutions, and connects corporate clients with financial institutions.
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