Bluejay Diagnostics closes millions of private placement

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Announcement 

The Bluejay Diagnostic, Inc., a leading medical diagnostics company establishing near-patient solutions for crucial care, has declared the closing formalities of its past announced private placement for the buyout and sale of a series F warrant to buy around 4,500,000 shares of common stock and estimate 2,250,000 shares of common stock (or pre-funded warrants). At a purchase price of $2.00 per share of accompanying warrants and common stock (or per pre-funded warrant in lieu thereof), priced as per the NASDAQ rules following the market price.

The series F warrants have a strike price of $1.75 per share and are exercisable quickly upon issuance. The series F warrant is not considered after five and one-half years from the date of issuance. The Rodman and Renshaw LLC will be the exclusive placement agent during the entire offering activities. The securities of the company and the net proceeds will shape the development of the company at a development level. The net proceeds will contribute to the advancement and pave the way for growth and new opportunities for innovation to enter BlueJay Diagnostics.

The total gross proceeds from the granted offering were $4.5 million, calculated before the place agent’s fees deduction and various other offering expenses payable by BlueJay Diagnostics. The company is planning to use the net proceeds from the granted offering to the funding based advancement-based development to gain FDA approval involving clinical studies. Alongside, the net proceeds can be used further for general working capital needs and various other research and development activities.

‘Securities’ in detail

The securities defined above were provided in a private placement under section 4(a)(2) of the Securities Act of 1933, as revised under Regulation D promulgated and/or Securities Act thereunder, including the shares of common stock and warrants. The common stock intrinsic to the warrants is yet to be registered under the Securities Act or attested to the state securities laws. The securities received in the shares of common stock and private placement underlying warrants might be enabled or saleable in the United States until and unless pursuant to an official registration statement or an applicable notice exemption from the registration requirements of the Securities Act, and to such considered state securities laws.

In accordance with the registration rights agreement with the investors, BlueJay Diagnostics has been convinced to officially file a resale registration statement holding the securities as detailed above.