Bluejay Diagnostics Unveils Private Placement Up To $23.6 Mln; Stock Down

(RTTNews) - Bluejay Diagnostics, Inc. (BJDX), a medical diagnostics company, announced that it has entered into definitive agreements for a private placement involving the purchase and sale of an aggregate of 3.66 million shares of common stock and series G warrants to purchase up to 3.66 million shares and short-term series H warrants to purchase up to 3.66 million shares at a purchase price of $2.325 per share. The gross proceeds from the offering are expected to be $8.5 million, and the potential additional gross proceeds from the Series G warrants and the short-term Series H warrants, if fully exercised on a cash basis, will be approximately $15.1 million. Importantly, the firm noted that the net proceeds are anticipated to extend the cash runway into the first quarter of 2027, beyond the expected FDA submission. If the warrants are exercised in full for cash, the cash runway is anticipated to extend well beyond FDA approval. The series G warrants and the short-term series H warrants will have an exercise price of $2.075 per share and will be immediately exercisable upon issuance. The series G warrants will expire in five years, and the short-term series H warrants will expire twenty-four months from the effective date. Bluejay intends to use the net proceeds to obtain FDA approval, including clinical studies, as well as for other research and development and for general working capital needs. The private placement is expected to close on or about June 3, 2026, subject to approval conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Bluejay's first product candidate, the Symphony IL-6 diagnostic test for sepsis, measures interleukin-6 (IL-6), a biomarker that rises early in sepsis and other inflammatory conditions.IL-6 is designed to provide results in approximately 20 minutes to aid treatment decisions, according to the firm. BJDX has traded between $1.62 and $16.68 over the last year. The stock closed Monday's trade at $4.34, up 100%. In the overnight market, BJDX is down 10.60% at $3.88. For More Such Biotech Stock News, visit rttnews.com. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.