bioAffinity Technologies, Inc. announced on February 26, 2025, the closing of its warrant inducement transaction, generating aggregate gross proceeds of approximately $1.4 million. The company entered into agreements with existing accredited investors to exercise 2,438,473 outstanding warrants.
In exchange for the immediate exercise of these existing warrants, the company reduced their exercise price from $1.50 to $0.58 per share. The exercising holders also received new unregistered warrants to purchase up to 2,926,166 shares of common stock at an exercise price of $0.85 per share.
This capital infusion is intended to provide working capital and support general corporate purposes. The transaction helps to strengthen the company's financial position by converting existing warrants into cash, albeit with the issuance of new warrants that could lead to future dilution.
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