Bluejay Diagnostics Inc. (NASDAQ: BJDX) announced it has entered into definitive agreements for a private placement expected to generate $8.5 million in gross proceeds, with potential additional proceeds of up to $15.1 million if warrants are fully exercised.

The medical diagnostics company will sell 3,655,917 shares of common stock and accompanying warrants at $2.325 per share. The offering includes series G warrants and short-term series H warrants, both with an exercise price of $2.075 per share and immediate exercisability upon issuance.

The series G warrants will expire five years from the effective date of the resale registration statement, while the short-term series H warrants will expire twenty-four months from that date. H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.

The private placement is expected to close on or about June 3, 2026, subject to customary closing conditions. The transaction is being conducted under Section 4(a)(2) of the Securities Act of 1933 and Regulation D.

Bluejay stated it intends to use net proceeds to fund matters related to obtaining FDA approval, including clinical studies, as well as other research and development activities and general working capital needs. The company noted that net proceeds are anticipated to extend its cash runway into the first quarter of 2027.

The Acton, Massachusetts-based company focuses on near-patient testing for critical care through its Symphony System, designed for sepsis triage and monitoring. Its lead product candidate is an IL-6 test for sepsis that provides results in approximately 20 minutes.