#United States #Jersey City #Private Placement #WallachBeth Capital #bioAffinity Technologies

BioAffinity Technologies Completes $1.2 Million Private Placement

In a noteworthy move for the biotechnology sector, WallachBeth Capital LLC, renowned for its capital markets services, announced a successful private placement on August 13, 2025, for bioAffinity Technologies, Inc.. This placement aims to support the company’s ongoing efforts in developing noninvasive cancer detection tests. The financing round raised approximately $1.2 million through the issuance of 990 shares of Series B Convertible Preferred Stock alongside warrants, marking a significant step forward for bioAffinity in enhancing its operational capacity and research initiatives.

Detailed Breakdown of the Placement

The structure of this private placement includes the sale of preferred shares valued at $1,000 each, convertible into about 4.3 million shares of common stock at a favorable rate of $0.23 per share. Notably, investors will also be granted the right to purchase approximately 6.7 million shares of common stock through various warrants issued in this transaction. These warrants will become actionable following necessary stockholder approvals, with an exercise price set at $0.352 per share and an expiration timeframe of five years from the exercise date.

In conjunction with this new offering, bioAffinity entered a warrant exercise agreement with existing investors to refinance previous warrants set at higher exercise prices. This restructuring has effectively reduced the exercise price from $1.50 to $0.23 for warrants issued in August 2024, while those from October 2024 saw a drop from $1.25 to the same $0.23 value. As part of the agreement, investors will receive new unregistered warrants for a total acquisition of 1.43 million shares, which will also be exercisable at the price of $0.352.

Purpose of the Funds

The anticipated net proceeds from these transactions are earmarked for essential working capital and general corporate uses, reinforcing the company’s strategic initiatives in developing innovative healthcare solutions. It is essential to note that the private placement securities, while beneficial for bioAffinity's growth, were offered under Regulation D, therefore not requiring immediate registration.

The Role of WallachBeth Capital

As the sole placement agent for this transaction, WallachBeth Capital plays an indispensable role in facilitating capital-raising activities. Their expertise aligns with the financial needs of bioAffinity, a company that is aggressively addressing the critical requirement for early detection tests in cancer diagnoses, a need increasingly recognized in the healthcare field.

Future Implications

Industry analysts view this capital infusion as a pivotal component in advancing the company’s research capabilities. By refining their product pipeline, bioAffinity Technologies aims to enhance their market position amid the many challenges facing the healthcare sector today. Furthermore, the swift execution of these transactions indicates robust investor confidence in bioAffinity's long-term vision.

As the closing date approaches, projected for August 14, 2025, subject to customary closing conditions, all eyes will be on how bioAffinity leverages these funds for future projects. In light of recent advancements in biotechnology, the integration of cutting-edge cancer diagnostics could yield favorable outcomes for both the company and its stakeholders.

Conclusion

This strategic move emphasizes the critical intersection between finance and biotechnology, underscoring how essential funding is to fuel innovation. As bioAffinity Technologies continues to pave the way towards improved cancer detection, their collaboration with WallachBeth Capital will be instrumental in navigating future market landscapes.