BioAffinity Technologies Secures $1.4M Cash Through Warrant Inducement

bioAffinity Technologies, Inc. has announced the exercise of warrants by three accredited investors, leading to the issuance of new unregistered warrants that will allow the purchase of additional shares. The existing warrants, amounting to 2,438,473 shares, were exercised for gross proceeds of approximately $1.4 million, with the exercise price for these warrants reduced from $1.50 to $0.58 per share. In return, investors will receive new warrants for 2,926,168 shares at an exercise price of $0.85 per share, which will be exercisable once stockholder approval is obtained. The expected closing date for this transaction is around February 26, 2025. WallachBeth Capital is acting as the sole placement agent for this transaction.