WallachBeth Capital: bioAffinity Technologies Announces Warrant Exercise Agreements with Existing Investors
JERSEY CITY, N.J., Feb. 25, 2025 – WallachBeth Capital LLC, a prominent player in the capital markets and institutional execution services sector, recently made an announcement regarding bioAffinity Technologies, Inc. (BIAF and BIAFW). The company revealed that bioAffinity has entered into warrant exercise agreements with three existing accredited investors. These investors will exercise certain outstanding warrants to purchase a combined total of 2,438,473 shares of the Company’s common stock, which is denoted as the “Existing Warrants.”
Background on bioAffinity Technologies
bioAffinity Technologies, Inc. is a clinical-stage biotechnology company specializing in the development and commercialization of innovative cancer diagnostics and therapeutics. Their primary focus is on the discovery, development, and manufacturing of affinity-based, protein-targeted therapeutics and diagnostics for various types of cancer. The company’s goal is to improve patient outcomes and save lives by providing accurate and effective diagnostic tools and targeted therapeutic solutions.
Details of the Warrant Exercise Agreements
According to the announcement, the warrant exercise price for each of the Existing Warrants is $1.92 per share. The closing price of BIAF stock on the Nasdaq Capital Market on Feb. 24, 2025, was $2.55 per share. This indicates that the investors are purchasing the shares at a discount, which is a common practice in warrant exercises. The net proceeds to bioAffinity from the exercise of the warrants will be approximately $3.7 million before deducting the placement agent fees and offering expenses.
Impact on bioAffinity Technologies and Its Stakeholders
This warrant exercise event signifies the confidence existing investors have in bioAffinity’s future growth and potential. The additional capital infusion will enable the company to further advance its research and development efforts, potentially bringing new diagnostic and therapeutic solutions to the market. Moreover, the increased liquidity may attract new investors and potential partners, further strengthening bioAffinity’s position in the biotech industry.
Global Implications
The positive developments at bioAffinity Technologies could have broader implications for the global healthcare industry. Improved diagnostic tools and targeted therapeutic solutions can lead to earlier detection and more effective treatment of various types of cancer. This, in turn, could result in better patient outcomes and reduced healthcare costs associated with late-stage cancer treatments.
Conclusion
In summary, WallachBeth Capital’s recent announcement regarding bioAffinity Technologies’ warrant exercise agreements with three existing accredited investors highlights the confidence these investors have in the company’s future growth and potential. The additional capital will enable bioAffinity to further its research and development efforts, potentially bringing new diagnostic and therapeutic solutions to the market. This could lead to better patient outcomes and reduced healthcare costs associated with late-stage cancer treatments, ultimately benefiting the global healthcare industry as a whole.
- bioAffinity Technologies, a clinical-stage biotech company, has received commitments from three existing investors to exercise warrants and purchase 2,438,473 shares of common stock.
- The warrant exercise price is $1.92 per share, and the net proceeds to bioAffinity from the exercise of the warrants will be approximately $3.7 million.
- The investors’ confidence in bioAffinity’s future growth and potential could attract new investors and partners, further strengthening the company’s position in the biotech industry.
- The additional capital will enable bioAffinity to advance its research and development efforts, potentially bringing new diagnostic and therapeutic solutions to the market.
- Improved diagnostic tools and targeted therapeutic solutions could lead to better patient outcomes and reduced healthcare costs associated with late-stage cancer treatments.
