bioAffinity Technologies Secures $4.8 Million in Public Offering
bioAffinity Technologies Public Offering Announcement
In a significant development for bioAffinity Technologies, Inc. (NASDAQ: BIAF), the company has successfully priced a public offering that seeks to raise approximately $4.8 million. This offering is particularly important as bioAffinity focuses on the innovative need for noninvasive tests designed to detect early-stage cancer, which could revolutionize cancer diagnostics.
Details of the Offering
The public offering will consist of 1,921,799 shares of common stock at a set purchase price of $2.50 per share. Additionally, the offering includes pre-funded warrants available for those preferring warrants instead of shares, priced at $2.493 each.
Warrants and Exercise Terms
Each pre-funded warrant provides the option to acquire one share of common stock. Notably, these warrants will be immediately exercisable, offering flexibility to investors. Once exercised, they will expire upon full use. Moreover, the exercise price for these warrants is set at $0.007 per share, highlighting bioAffinity's commitment to providing accessible investment opportunities.
Closing Expectations
The anticipated closing date for this offering is set for September 30, 2025, contingent upon meeting standard closing conditions. This timeline underscores the company’s efficient mobilization of capital, aimed at advancing its research and development in early-stage cancer detection technologies.
Role of WallachBeth Capital
WallachBeth Capital, LLC is taking on the role of the sole placement agent for this offering. Their expertise in capital markets is expected to greatly benefit bioAffinity Technologies as they navigate this essential financial process.
Company's Mission and Services
bioAffinity Technologies is a pioneering biotechnology firm dedicated to improving cancer diagnostics through groundbreaking noninvasive testing methods. The financial backing from this public offering will enable the company to enhance its research capabilities and further develop its technology, paving the way for innovative healthcare solutions.
Market Position and Future Prospects
The biotechnology landscape is rapidly evolving, and bioAffinity is positioned at the forefront of this transformation. With a passion for elevating patient care through advanced diagnostic tools, bioAffinity's endeavors are not just about profit but about making a meaningful impact in the field of oncology.
Frequently Asked Questions
What is the total amount being raised in the public offering?
The public offering aims to raise approximately $4.8 million for bioAffinity Technologies.
What is the price of the common stock in the offering?
The common stock is priced at $2.50 per share in the public offering.
Who is the placement agent for this offering?
WallachBeth Capital, LLC is the sole placement agent for the offering.
What innovative area does bioAffinity Technologies focus on?
bioAffinity Technologies specializes in noninvasive testing methods for the detection of early-stage cancer.
When is the expected closing date for the offering?
The expected closing date is September 30, 2025, subject to standard conditions being met.
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