Bluejay Diagnostics, Inc. announced that it has entered a securities purchase agreement with certain institutional and accredited investors to issue 216,000 common shares at an issue price of $7.365 per share for the gross proceeds of $1,590,840 on August 24, 2023. In connection with the transaction, the company also issued 216,000 shares of Common Stock purchase warrants at an exercise price of 7.24 per share, will be immediately exercisable upon issuance and will expire five years from the date of issuance. The Warrants were offered and sold at a purchase price of $0.125 per underlying warrant share, which purchase price is included in the offering price per share of Common Stock issued in the Offering.

The transaction is expected to close on August 28, 2023. The company has disclosed the placement agent fees for 7%, management fee equal to 1.0% of the gross proceeds, $45,000 for non-accountable expenses, and $15,950 for clearing fees. In addition, the Company agreed to issue to the placement agent, or its designees, warrants to purchase up to 15,120 shares of Common Stock, which represents 7.0% of the aggregate number of shares of Common Stock sold in the Offering.

The Placement Agent Warrants have substantially the same terms as the Warrants, except that the Placement Agent Warrants have an exercise price equal to $ 9.2063, or 125% of the offering price per share of Common Stock sold in the Offering, and a term of five years from the commencement of the sales pursuant to the Offering.