bioAffinity Technologies Secures $4 Million in Private Placement
With a strategic move to bolster capital, New Jersey-based bioAffinity Technologies has finalized a private placement deal expected to generate $4 million. The biotechnology firm, which specializes in noninvasive cancer diagnostics, is issuing over 8.4 million shares and accompanying warrants to an institutional investor to fund its operations.
The offering, priced at-the-market under Nasdaq regulations, carries a combined effective price of $0.4727 per share and two warrants. Pre-funded warrants included in the deal are priced at $0.4657, with an exercise price of $0.007. The warrants are set to expire in five years, pending necessary shareholder approval.
WallachBeth Capital LLC served as the sole placement agent for the transaction. The company expects the deal to close by August 14, 2026, provided standard closing conditions are met. These securities are being issued under Section 4(a)(2) of the Securities Act and are not currently registered for public resale.
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