Bluejay Diagnostics Closes $8.5M Private Placement
Bluejay Diagnostics, Inc. announced the closing of a private placement, securing $8.5 million in upfront gross proceeds. The offering involved the sale of 3,655,917 shares of common stock (or pre-funded warrants) and accompanying series G and H warrants, which could generate an additional $15.2 million if fully exercised. The company anticipates these net proceeds will extend its cash runway into the first quarter of 2027, beyond its expected FDA submission, and potentially well beyond FDA approval and first year of commercialization if warrants are fully exercised. The funds will be allocated towards obtaining FDA approval, related clinical studies, other research and development activities, and general working capital needs.
Key Highlights
- Bluejay Diagnostics closed a private placement, generating $8.5 million in upfront gross proceeds.
- The offering included 3,655,917 shares of common stock (or pre-funded warrants) and 7,311,834 series G and H warrants.
- The purchase price was $2.325 per share of common stock or pre-funded warrant.
- Warrants have an exercise price of $2.075 per share, with potential for $15.2 million in additional gross proceeds.
- Net proceeds are expected to extend the cash runway into the first quarter of 2027.
- Funds will support FDA approval processes, clinical studies, R&D, and general working capital.
Price Impact
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