Business
Bluejay Diagnostics, Inc. Announces Pricing of Upsized $21.6 Million Initial Public Offering
ACTON, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Bluejay Diagnostics, Inc. (NASDAQ: BJDX) (“Bluejay”) a late-stage, pre-revenue diagnostics/medical device
About this update from Bluejay Diagnostics, Inc.
[{"type":"text","content":"ACTON, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Bluejay Diagnostics, Inc. (NASDAQ: BJDX) (“Bluejay”) a late-stage, pre-revenue diagnostics/medical device company focused on developing cost-effective, rapid, near-patient products for triage, diagnosis and monitoring of disease progression, today announced the pricing of an underwritten Initial Public Offering of 2,160,000 units, at a combined price per unit of $10.00, consisting of: One share of common stock,One Class A warrant (the “Class A Warrants”) to purchase one share of our common stock at an exercise price equal to $7.00 per share, exercisable until the fifth anniversary of the issuance date,One Class B warrant (the “Class B Warrants,”) and together with the Class A Warrants, the “Warrants”) to purchase one share of our common stock at an exercise price equal to $10.00 per share, exercisable until the fifth anniversary of the issuance date, which contains an exchange feature that will permit the holder to exchange the warrant into common stock on a one-for-one basis any time commencing the earlier of 10 days from the warrant issuance date or the time when $10 million of volume is traded in the common stock, if the volume weighted average price of the common stock on any trading day on or after the date of issuance fails to exceed the exercise price of the Class B warrants. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 324,000 shares of common stock, 324,000 Class A warrants and 324,000 Class B Warrants, in any combinations thereof, to cover over-allotments, if any. The shares of the Company’s common stock will separate from the unit and immediately begin trading on the Nasdaq Capital Market on November 10, 2021 under the ticker symbol “BJDX”. The Company does not intend to apply for any listing of either of the warrants on the Nasdaq Capital Market or any other securities exchange or nationally recognized trading system, and it does not expect a market to develop for such securities. The closing of the offering is expected to take place on or about November 12, 2021, subject to the satisfaction or waiver of customary closing conditions. Gross proceeds to Bluejay from this offering are expected to be approximately $21.6 million, before deducting underwriting discounts and commissions. Bluejay anticipates using the net pro...