WallachBeth Capital Announces Closing of bioAffinity Technologies Warrant Inducement Transaction for Aggregate Gross Proceeds of $1.4 Million

JERSEY CITY, N.J., Feb. 26, 2025 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced today that – bioAffinity Technologies, Inc. (NASDAQ: BIAF and BIAFW) announced today it has closed its previously announced warrant exercise agreements with four existing accredited investors to exercise certain outstanding warrants to purchase an aggregate of 2,438,473 of the Company's shares of common stock (the "Existing Warrants"). In consideration for the immediate exercise in full of the Existing Warrants for gross cash proceeds of approximately $1.4 million, the exercising holders will receive in a private placement new unregistered warrants (the "New Warrants") to purchase up to an aggregate of 2,926,166 shares of common stock (equal to 120% of the shares of common stock issued in connection with the exercise of the Existing Warrants) with an exercise price of $0.85 per share. The New Warrants are initially exercisable on the date that stockholder approval of the exercise of the New Warrants is obtained and will expire five years from the date of such approval. In connection with the exercise of the Existing Warrants, the Company agreed to reduce the exercise price of the Existing Warrants from $1.50 to $0.58 per share.

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