Diagnostic test developer BioAffinity ( NASDAQ: BIAF ) has priced its $8M initial public offering, with shares set to make their market debut on Thursday.
BioAffinity said it offered 1.3M units at $6.125 per unit. Each unit consists of one share plus one tradeable warrant to buy one share at $7.35 and one non-tradeable warrant to buy one share at $7.656.
Underwriters were granted a 45-day option to buy up to 192K additional shares and/or warrants. WallachBeth Capital and Craft Capital Management are serving as lead bookrunners.
Shares are expected to trade on Nasdaq under the symbol BIAF beginning on Thursday.
BioAffinity said it plans to use proceeds from the deal to commercialize its CyPath Lung test for the early detection of lung cancer.
The IPO was slightly downsized from an earlier proposal made in May, which had the company looking to raise around $10M.
For a more in-depth look at BioAffinity, check out SA contributor Donovan Jones’s “BioAffinity Technologies Readies $10M IPO”.
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Lung cancer test developer BioAffinity prices $8M IPO