JERSEY
CITY, N.J., Sept. 6,
2022 /PRNewswire/ -- WallachBeth Capital LLC, a
leading provider of capital markets and institutional execution
services, announced today bioAffinity Technologies, Inc.
("bioAffinity" or the "Company") (NASDAQ: BIAF, BIAFW), a cancer
diagnostics company that develops noninvasive, early-stage
diagnostics to detect cancer and diseases of the lung, has
completed its previously announced initial public offering ("IPO")
of 1,282,600 units, each consisting of one share of common stock,
one tradeable warrant to purchase one share of common stock at an
exercise price of $7.35 per share,
and one non-tradeable warrant to purchase one share of common stock
at an exercise price of $7.656 per
share, for aggregate gross proceeds of approximately $7.8 million, prior to deducting underwriting
discounts, commissions, and other offering expenses. In addition,
bioAffinity has granted the underwriters a 45-day option to
purchase up to 192,390 shares of common stock, and/or 192,390
tradeable warrants, and/or 192,390 non-tradeable warrants, or any
combination of additional shares of common stock and warrants
representing, in the aggregate, up to 15% of the number of the
units sold in this offering to cover over-allotments in this
offering.
WallachBeth Capital, LLC and Craft Capital Management, LLC are
co-managers and co-book running managers for the offering.
A registration statement on Form S-1, as amended (File No. 333-
264463) was filed with the Securities and Exchange Commission
("SEC") and was declared effective on August
29, 2022. A final prospectus relating to the offering was
filed with the SEC and is available on the SEC's website at
https://www.sec.gov. Electronic copies of the final prospectus
relating to this offering may be obtained from WallachBeth Capital,
LLC, Attention: Capital Markets, 185 Hudson Street, Jersey City, NJ 07311, by telephone at
646-998-7608, or by email at cap-mkts@wallachbeth.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About bioAffinity Technologies,
Inc.
bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) addresses
the need for noninvasive diagnosis of early-stage cancer and
diseases of the lung, and targeted cancer treatment.
About WallachBeth Capital
LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions, creating value for
both issuers and investors. The firm's experience includes initial
public offerings, follow-on issues, PIPE offerings, and private
transactions. The firm's website is located at
www.wallachbeth.com.
Forward-Looking
Statements
This press release contains forward-looking statements,
including statements regarding the anticipated use of proceeds from
the Company's offering of common shares. Such forward-looking
statements are based on facts and conditions as they exist at the
time such statements are made and predictions as to future facts
and conditions. Neither the Company not WallachBeth undertakes any
obligation to update any forward-looking statement, except as may
be required by applicable securities laws.
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SOURCE WallachBeth Capital LLC