bioAffinity Technologies(US:BIAF) Prnewswire·2024-08-02 14:00Core Points - bioAffinity Technologies, Inc. has entered into warrant exercise agreements with three accredited investors to exercise existing warrants for a total of 1,041,667 shares, generating approximately $1,302,083 in gross cash proceeds [1] - The exercise price of the existing warrants has been reduced from $1.64 to $1.25 per share, and new unregistered warrants have been issued for 1,302,083 shares at an exercise price of $1.50 per share [1] - A securities purchase agreement has been established for the purchase of 360,000 shares in a registered direct offering, along with private warrants for 450,000 shares at a combined purchase price of $1.25 [2] - The gross proceeds from the offering are expected to be around $450,000, excluding potential proceeds from the exercise of the private warrants [3] Company Actions - The closing of the offering is anticipated to occur on or about August 5, 2024, pending customary closing conditions [3] - WallachBeth Capital LLC is acting as the sole placement agent for the registered direct offering and private placement, as well as the financial advisor for the warrant inducement transaction [4] - The common stock will be issued under an effective shelf registration statement previously filed with the SEC, and the private warrants will be offered under an exemption from registration requirements [5]