bioAffinity Technologies Closes $3.2 Million Public Offering
Jersey City-based biotechnology firm bioAffinity Technologies has finalized a public offering of securities, securing $3.2 million in gross proceeds. The capital injection is earmarked to support the company's efforts in developing noninvasive diagnostic tools for the detection of early-stage lung cancer and associated pulmonary conditions.
WallachBeth Capital LLC served as the sole placement agent for the transaction, which involved the sale of 4 million shares of common stock at a purchase price of $0.80 per share. The offering also included pre-funded warrants priced at $0.793, each exercisable for one share of common stock.
The company conducted the offering under a registration statement filed with the Securities and Exchange Commission. These funds arrive as bioAffinity continues to scale its market presence, leveraging WallachBeth Capital’s institutional execution services to navigate the capital markets. The proceeds, before accounting for agent fees and related expenses, provide the firm with additional liquidity to advance its specialized diagnostic pipeline.
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