Workflow
WallachBeth Capital Announces bioAffinity Technologies Warrant Inducement for Aggregate Gross Proceeds of $1.4 Million
BIAFbioAffinity Technologies(BIAF) Prnewswire·2025-02-25 16:05

Group 1 - WallachBeth Capital LLC announced that bioAffinity Technologies, Inc. has entered into warrant exercise agreements with three accredited investors to exercise existing warrants for a total of 2,438,473 shares of common stock, generating approximately 1.4millioningrosscashproceeds[1][2]−Inexchangefortheimmediateexerciseoftheexistingwarrants,theinvestorswillreceivenewunregisteredwarrantstopurchaseupto2,926,168sharesofcommonstockatanexercisepriceof1.4 million in gross cash proceeds [1][2] - In exchange for the immediate exercise of the existing warrants, the investors will receive new unregistered warrants to purchase up to 2,926,168 shares of common stock at an exercise price of 0.85 per share, which is 120% of the shares issued from the existing warrants [1] - The exercise price of the existing warrants has been reduced from 1.50to1.50 to 0.58 per share as part of this agreement [1] Group 2 - The closing of the offering is expected to occur on or about February 26, 2025, pending customary closing conditions [2] - WallachBeth Capital is acting as the sole placement agent for this warrant inducement transaction [2]