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Bluejay Diagnostics Announces Closing of $8.75 Million Underwritten Public Offering

ACTON, Mass., June 28, 2024 (GLOBE NEWSWIRE) -- Bluejay Diagnostics, Inc. (NASDAQ:BJDX) ("Bluejay" or the "Company"), a medical technology company developing rapid diagnostics on its Symphony platform to improve patient outcomes in critical care settings, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $8.75 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The base offering consisted of 5,368,098 Common Units or Prefunded Units, each Unit consisting of one share of the Company's common stock ("Common Stock") or one pre-funded warrant to purchase one share of Common Stock (each, a "Prefunded Warrant"), two Class C warrants each to purchase one share of our common stock (each, a "Class C Warrant") and one Class D Warrant to purchase such number of shares of common stock as determined in the Class D Warrant (each, a "Class D Warrant" and together with the Class C Warrants, the "Common Warrants"). The purchase price of each Common Unit is $1.63, and the purchase price of each Prefunded Unit is $1.6299 (which is equal to the public offering price per Common Unit minus $0.0001). The Prefunded Warrants will be immediately exercisable and may be exercised at any time until all the Prefunded Warrants are exercised in full. The Class C Warrants, which will not be exercisable until approval by the Company's stockholders, will have an initial exercise price of $1.96 per share, and will expire five (5) years from the date of such stockholder approval. Each Class D Warrant will be exercisable immediately. The exercise price and number of shares of Common Stock issuable under the Class D Warrants are subject to adjustment as described in the Class D Warrant. The Company intends to use the net proceeds from the offering to (i) repay $2.3 million in outstanding debt that will be due and ...