bioAffinity Technologies (BIAF) announced it has closed the previously announced definitive agreements for the purchase and sale of 720,000 shares of common stock at a purchase price of $2.50 per share in a registered direct offering priced at-the-market under Nasdaq rules. WallachBeth Capital, LLC acted as sole placement agent for the offering. The company intends to use the net proceeds from the offering for working capital, to support expected growing sales for CyPath Lung, its noninvasive test for lung cancer, and general corporate purposes.
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