JERSEY
CITY, N.J., March 8,
2024 /PRNewswire/ -- WallachBeth Capital LLC, a
leading provider of capital markets and institutional execution
services, announced today that bioAffinity Technologies, Inc.
(Nasdaq: BIAF and BIAFW) has closed a securities purchase agreement
with institutional investors for the purchase and sale of 1,600,000
shares of common stock in a registered direct offering and common
warrants to purchase up to 1,600,000 shares of common stock in a
concurrent private placement (together with the registered direct
offering) at a combined purchase price of $1.5625 per common share. The common warrants
issued pursuant to the concurrent private placement will have an
exercise price of $ 1.64 per share,
are initially exercisable on the date that shareholder approval of
the exercise of the warrants is obtained and will expire five years
from the date of such approval.
WallachBeth Capital is acting as sole placement agent for the
Offering.
The common stock was issued in a registered direct offering
pursuant to an effective shelf registration statement on Form S-3
(File No. 333-275608) previously filed with the U.S. Securities and
Exchange Commission (SEC), under the Securities Act of 1933, as
amended, and declared effective by the SEC on November 27, 2023. The common warrants will be
issued in a concurrent private placement. A prospectus supplement
describing the terms of the proposed registered direct offering was
filed with the SEC and is available on the SEC's website located at
http://www.sec.gov. Electronic copies of the prospectus supplement
may be obtained, when available, from WallachBeth Capital, LLC, via
email at cap-mkts@wallachbeth.com, by calling +1 (646) 237‑8585, or
by standard mail at WallachBeth Capital LLC, Attn: Capital Markets,
185 Hudson St., Suite 1410, Jersey City,
NJ 07311, USA.
The private placement of the common warrants was made in
reliance on an exemption from registration under Section 4(a)(2) of
the Securities Act and/or Regulation D thereunder. Accordingly, the
securities issued in the concurrent private placement may not be
offered or sold in the United
States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions. The firm's experience
includes initial public offerings, follow-on issues, PIPE
offerings, and private transactions
Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding the anticipated use of proceeds from
the Company's offering of securities and the ability to obtain
shareholder approval of the exercise of the warrant.
Forward-looking statements can be identified by words such as
"believes," "expects," "estimates," "intends," "may," "plans,"
"will" and similar expressions, or the negative of these words.
Such forward-looking statements are based on facts and conditions
as they exist at the time such statements are made and predictions
as to future facts and conditions. Readers of this press release
are cautioned not to place undue reliance on any forward-looking
statements. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of the Company's control. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to risks and uncertainties included under the heading "Risk
Factors" in the Company's Quarterly Reports on Form 10-Q filed by
the Company and other reports filed with the SEC from time to time.
The Company does not undertake any obligation to update any
forward-looking statement relating to matters discussed in this
press release, except as may be required by applicable securities
laws.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/wallachbeth-capital-announces-closing-of-bioaffinity-technologies-2-5-million-registered-direct-offering-and-concurrent-private-placement-302084347.html
SOURCE WallachBeth Capital LLC