BioAffinity Technologies announces pricing of $2.66M registered direct offering

BioAffinity Technologies (BIAF) announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 2,048,294 shares of common stock in a registered direct offering at a price of $1.30 per share and, in a concurrent private placement, common warrants to purchase up to 2,662,782 shares of common stock at an exercise price of $1.50 per common share. The Warrants are initially exercisable on the date that the company’s stockholders approve the exercise of the Warrants and the issuance of the shares upon exercise thereof and will expire five years from the date of such approval. The closing of the offering is expected to occur on or about Oct. 21, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $2,662,782 excluding any proceeds that may be received upon the exercise of the Warrants and before deducting placement agent fees and other offering expenses payable by the company. WallachBeth Capital is acting as sole placement agent for the offering.