Bluejay Diagnostics closes $4.5 million private placement

Bluejay Diagnostics, Inc. (NASDAQ: BJDX) announced the closing of a private placement that raised $4.5 million in gross proceeds. The medical diagnostics company sold 2,250,000 shares of common stock and pre-funded warrants at $2.00 per share, along with Series F warrants to purchase up to 4,500,000 additional shares.

The Series F warrants carry an exercise price of $1.75 per share and are exercisable immediately upon issuance. The warrants expire five and one-half years from the date of issuance. Rodman and Renshaw LLC served as the exclusive placement agent for the offering.

The company stated it intends to use net proceeds to fund FDA approval activities, including clinical studies, research and development activities, and general working capital needs. The securities were offered under Section 4(a)(2) of the Securities Act of 1933 and Regulation D.

Bluejay Diagnostics develops near-patient solutions for critical care through its Symphony System, designed for sepsis triage and disease progression monitoring. The company's IL-6 Test for sepsis is designed to provide results in approximately 20 minutes.

The securities issued in the private placement have not been registered under the Securities Act and may not be offered or sold in the United States except under an effective registration statement or applicable exemption. The company has agreed to file a resale registration statement covering the securities under a registration rights agreement with investors.

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