WallachBeth Capital Completes Warrant Inducement Deal with bioAffinity Technologies for $1.4 Million

WallachBeth Capital Secures $1.4 Million in Warrant Inducement Transaction with bioAffinity Technologies

In a significant move within the capital markets, WallachBeth Capital LLC, known for its expertise in financial services, has finalized a warrant inducement transaction with bioAffinity Technologies, Inc., which is publicly traded under the symbols NASDAQ BIAF and BIAFW. This agreement marks an important step for bioAffinity Technologies, as it closed its warrant exercise deals with four accredited investors, resulting in gross cash proceeds of approximately $1.4 million.

The transaction revolves around the immediate exercise of Existing Warrants, allowing investors to acquire a total of 2,438,473 shares of common stock. In exchange, these investors will receive New Warrants for an additional 2,926,166 shares of common stock, representing an offer of 120% of the shares issued during the Existing Warrants exercise. The exercise price for these New Warrants has been set at $0.85 per share.

One pivotal aspect of this transaction is the significant adjustment of the exercise price for the Existing Warrants, which has been reduced from $1.50 to $0.58 per share to encourage investor participation and optimize financing terms. These New Warrants will be exercisable once the company obtains stockholder approval, with a validity period of five years from that consent date.

WallachBeth Capital acted as the sole placement agent for this transaction, leveraging its extensive network and experience to facilitate this sizable capital influx for bioAffinity Technologies. The company has painted a promising picture, illustrating the fluid relationship between capital markets and biotech firms actively seeking supportive financial structures to achieve their operational goals.

The $1.4 million raised from this warrant inducement is expected to significantly propel bioAffinity Technologies towards enhancing its product offerings and expanding its market reach, bolstered by the financial backing it now has.

WallachBeth Capital, based in Jersey City, NJ, has dedicated itself to providing a robust spectrum of capital markets and investment banking services tailored particularly for clients in the healthcare sector. Their capabilities include facilitating initial public offerings, follow-on issues, PIPE offerings, and private transactions.

Forward-looking statements from this announcement indicate the optimism shared by both WallachBeth Capital and bioAffinity Technologies regarding future market conditions and opportunities. However, stakeholders are cautioned regarding the uncertainties inherent in such projections

The details of this transaction come as various market participants are increasingly assessing and leveraging similar financing options to bolster their operational frameworks amidst a competitive landscape. The implications of this warrant inducement transaction extend not only to the involved firms but also highlight an evolving ecosystem within the biotech and capital markets arena.

Overall, with the funds raised, bioAffinity Technologies is in a favorable position to explore new avenues for innovation and strategic growth, setting the stage for a promising outlook in the months ahead. Stakeholders remain eager to see how this capital infusion will translate into tangible advancements and developments within the company as they navigate toward their strategic objectives.