BioAffinity Technologies (BIAF) closed its private placement, priced at-the-market under Nasdaq rules, raising about $4 million in gross proceeds, the company said Friday.
The offering included pre-funded warrants to purchase an aggregate of 8.46 million shares, with a combined effective offering price of $0.4657 per pre-funded warrant and two accompanying warrants. The accompanying warrants have an initial exercise price of $0.4727 per share, will be exercisable following stockholder approval and will expire five years after issuance.
BioAffinity Technologies shares were up 1.8% in Friday trading.
Price: $0.39, Change: $+0.01, Percent Change: +1.83%