Bluejay Diagnostics Announces Entry into Warrant Inducement Transaction for Approximately $3.7 Million in Gross Proceeds
Bluejay Diagnostics (NASDAQ: BJDX) has announced a warrant inducement transaction that will generate approximately $3.7 million in gross proceeds. The agreement involves institutional investors who are existing warrant holders exercising their rights to purchase up to 1,085,106 shares of common stock at a reduced exercise price of $3.42 per share.
In exchange for exercising their existing warrants, investors will receive new warrants to purchase an additional 1,085,106 shares of common stock. These new warrants are immediately exercisable at $3.42 per share and will expire in five years. The transaction was facilitated by Aegis Capital Corp. as the exclusive financial advisor, with legal counsel provided by Hogan Lovells US LLP for Bluejay and Kaufman & Canoles, P.C. for Aegis.
Bluejay Diagnostics (NASDAQ: BJDX) ha annunciato una transazione di incentivazione per warrant che genererà circa 3,7 milioni di dollari in proventi lordi. L'accordo coinvolge investitori istituzionali che sono già detentori di warrant e eserciteranno i loro diritti per acquistare fino a 1.085.106 azioni di azioni ordinarie a un prezzo di esercizio ridotto di 3,42 dollari per azione.
In cambio dell'esercizio dei loro warrant esistenti, gli investitori riceveranno nuovi warrant per acquistare ulteriori 1.085.106 azioni di azioni ordinarie. Questi nuovi warrant sono immediatamente esercitabili a 3,42 dollari per azione e scadranno tra cinque anni. La transazione è stata facilitata da Aegis Capital Corp. come consulente finanziario esclusivo, con assistenza legale fornita da Hogan Lovells US LLP per Bluejay e Kaufman & Canoles, P.C. per Aegis.
Bluejay Diagnostics (NASDAQ: BJDX) ha anunciado una transacción de incentivo de warrants que generará aproximadamente 3,7 millones de dólares en ingresos brutos. El acuerdo involucra a inversores institucionales que son titulares de warrants existentes y ejercerán su derecho a comprar hasta 1.085.106 acciones de acciones ordinarias a un precio de ejercicio reducido de 3,42 dólares por acción.
A cambio de ejercer sus warrants existentes, los inversores recibirán nuevos warrants para comprar 1.085.106 acciones adicionales de acciones ordinarias. Estos nuevos warrants son ejercitables de inmediato a 3,42 dólares por acción y expirarán en cinco años. La transacción fue facilitada por Aegis Capital Corp. como asesor financiero exclusivo, con asesoría legal proporcionada por Hogan Lovells US LLP para Bluejay y Kaufman & Canoles, P.C. para Aegis.
Bluejay Diagnostics (NASDAQ: BJDX)는 약 370만 달러의 총 수익을 창출하는 워런트 유도 거래를 발표했습니다. 이 계약은 기존 워런트 보유자인 기관 투자자들이 1,085,106주의 보통주를 할인된 행사 가격인 주당 3.42달러에 구매할 권리를 행사하는 것을 포함합니다.
기존 워런트를 행사하는 대가로 투자자들은 추가로 1,085,106주의 보통주를 구매할 수 있는 새로운 워런트를 받게 됩니다. 이 새로운 워런트는 즉시 주당 3.42달러에 행사 가능하며, 5년 후에 만료됩니다. 이 거래는 Aegis Capital Corp.가 독점 재무 자문사로서 촉진하였으며, Bluejay를 위한 Hogan Lovells US LLP와 Aegis를 위한 Kaufman & Canoles, P.C.가 법률 자문을 제공하였습니다.
Bluejay Diagnostics (NASDAQ: BJDX) a annoncé une transaction d'incitation de warrants qui générera environ 3,7 millions de dollars de recettes brutes. L'accord implique des investisseurs institutionnels qui sont déjà détenteurs de warrants et exerceront leurs droits pour acheter jusqu'à 1.085.106 actions ordinaires à un prix d'exercice réduit de 3,42 dollars par action.
En échange de l'exercice de leurs warrants existants, les investisseurs recevront de nouveaux warrants pour acheter 1.085.106 actions ordinaires supplémentaires. Ces nouveaux warrants sont immédiatement exerçables à 3,42 dollars par action et expireront dans cinq ans. La transaction a été facilitée par Aegis Capital Corp. en tant que conseiller financier exclusif, avec une assistance juridique fournie par Hogan Lovells US LLP pour Bluejay et Kaufman & Canoles, P.C. pour Aegis.
Bluejay Diagnostics (NASDAQ: BJDX) hat eine Transaktion zur Anreizgestaltung von Warrants angekündigt, die voraussichtlich etwa 3,7 Millionen Dollar an Bruttoeinnahmen generieren wird. Die Vereinbarung umfasst institutionelle Investoren, die bereits bestehende Warrantinhaber sind und ihr Recht ausüben, bis zu 1.085.106 Aktien zu einem reduzierten Ausübungspreis von 3,42 Dollar pro Aktie zu kaufen.
Im Austausch für die Ausübung ihrer bestehenden Warrants erhalten die Investoren neue Warrants, um zusätzlich 1.085.106 Aktien zu kaufen. Diese neuen Warrants sind sofort ausübbar zu 3,42 Dollar pro Aktie und laufen in fünf Jahren ab. Die Transaktion wurde von Aegis Capital Corp. als exklusivem Finanzberater unterstützt, mit rechtlicher Beratung durch Hogan Lovells US LLP für Bluejay und Kaufman & Canoles, P.C. für Aegis.
- Secured $3.7 million in immediate gross proceeds through warrant exercise
- New warrants provide potential for additional future funding
- Dilutive impact from issuance of new shares and potential future dilution from new warrants
- Reduced warrant exercise price indicates potential discount to market value
Insights
Bluejay Diagnostics has secured
The transaction has two key components: First, existing warrant holders will exercise warrants to purchase 1,085,106 shares at a reduced price of
While this transaction provides much-needed capital for BJDX's Symphony platform development, investors should note the potential dilutive impact. The 1,085,106 new shares represent significant potential dilution relative to BJDX's small market cap. Additionally, the below-market warrant exercise price of
The participation of institutional investors demonstrates some confidence in BJDX's technology, yet the terms suggest the company needed to provide significant incentives to raise capital. For a medical technology company developing diagnostic solutions for critical care settings, securing development funding is essential, though the structure of this deal comes with meaningful costs to existing shareholders.
ACTON, Mass., April 07, 2025 (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 that it has entered into an agreement with institutional investors that are existing holders of warrants to purchase shares of common stock of the Company for cash (the “Existing Warrants”), wherein the investors agreed to exercise the Existing Warrants to purchase up 1,085,106 shares of common stock at a reduced exercise price of
In consideration for the exercise of the Existing Warrants for cash, the investors received new warrants (the “New Warrants”) to purchase up to an aggregate of 1,085,106 shares of common stock. The New Warrants are exercisable immediately at an exercise price of
The Company issued and sold the New Warrants and any shares of common stock issuable upon exercise of the New Warrants in reliance on the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) by virtue of Section 4(a)(2) thereof and Rule 506 of Regulation D thereunder.
Aegis Capital Corp. acted as the exclusive financial advisor in connection with the transaction. Hogan Lovells US LLP acted as counsel to the Company for the transaction. Kaufman & Canoles, P.C. served as counsel to Aegis Capital Corp. for the transaction.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Bluejay Diagnostics:
Bluejay Diagnostics, Inc. is a medical diagnostics company focused on improving patient outcomes using its Symphony System, a cost-effective, rapid, near-patient testing system for sepsis triage and monitoring of disease progression. Bluejay’s first product candidate, an IL-6 Test for sepsis, is designed to provide accurate, reliable results in approximately 20 minutes from ‘sample-to-result’ to help medical professionals make earlier and better triage/treatment decisions. More information is available at www.bluejaydx.com.
Forward-Looking Statements:
This press release contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Litigation Reform Act. Forward-looking statements in this press release include, without limitation, statements pertaining to the completion of the transaction and the intended use of proceeds from the transaction, the expected nature and timing of the Company’s planned FDA submission and related plans for clinical study completion, whether the Company’s cash position will be sufficient to fund operations needed to achieve regulatory approval and initial commercialization of the Symphony IL-6 Test, whether such regulatory approval will actually occur, and the continuation of the Company as a going concern. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “suggest,” “will,” and similar expressions. The Company has based these forward-looking statements on its current expectations and projections about future events, nevertheless, actual results or events could differ materially from the plans, intentions and expectations disclosed in, or implied by, the forward-looking statements the Company makes. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including market and other conditions and those discussed under item 1A. “Risk Factors” in our Form 10-K for the fiscal year ended December 31, 2024, as filed with the Securities and Exchange Commission on March 31, 2025. You should not place undue reliance on these forward-looking statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may not occur or may be materially different from any future results or performance suggested by the forward-looking statements in this release. This press release speaks as of the date indicated above. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any future changes in the Company’s expectations of results or any future change in events, except as required by law.
Investor Contact:
Neil Dey
Bluejay Diagnostics, Inc.
neil.dey@bluejaydx.com
978-631-0310
Website: www.bluejaydx.com
FAQ
How much funding did Bluejay Diagnostics (BJDX) raise through the warrant inducement?
What is the exercise price for BJDX's new warrants issued in April 2025?
How many shares are covered by BJDX's new warrants?
When do the new BJDX warrants expire?
