If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because
of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box ☐.
*The remainder of this cover
page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on
the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange
Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
CUSIP No. 095633103
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13D
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Page 2 of 10 Pages
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1
|
Names of Reporting Persons
Indranil (Neil) Dey
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2
|
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ☐
(b) ☐
|
3
|
SEC Use Only
|
4
|
Source of Funds (See Instructions)
PF / AF
|
5
|
Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e):
☐
|
6
|
Citizenship or Place of Organization
United States of America
|
Number
of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
7
|
Sole
Voting Power
448,792+
|
8
|
Shared Voting Power
4,091,356+‡
|
9
|
Sole Dispositive Power
448,792+
|
10
|
Shared Dispositive Power
4,091,356+‡
|
11
|
Aggregate Amount Beneficially Owned by Each Reporting Person
4,540,148+‡
|
12
|
Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
☐
|
13
|
Percent of Class Represented By Amount In Row (11)
35.76%*
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14
|
Type of Reporting Person (See Instructions)
IN
|
+Reflects ownership as of the date
this filing was filed with the Securities and Exchange Commission.
†Includes 1,732 shares of common stock
underlying a warrant to purchase common stock held by Mr. Dey.
‡Includes 4,091,356 shares of
common stock held by Lana Management & Business Research International, LLC.
*Based on 12,694,265 shares of common stock, $0.0001
par value per share, of Bluejay Diagnostics, Inc. outstanding as of November 15, 2021, as reported on the Issuer’s prospectus filed
with the Securities and Exchange Commission in connection with its initial public offering that closed on November 15, 2021.
CUSIP No. 095633103
|
13D
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Page 3 of 10 Pages
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1
|
Names of Reporting Persons
Svetlana Dey
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2
|
Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) ☐
(b) ☐
|
3
|
SEC Use Only
|
4
|
Source of Funds (See Instructions)
AF
|
5
|
Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
☐
|
6
|
Citizenship or Place of Organization
United States
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
7
|
Sole Voting Power
0
|
8
|
Shared Voting Power
4,091,356+‡
|
9
|
Sole Dispositive Power
0
|
10
|
Shared Dispositive Power
4,091,356+‡
|
11
|
Aggregate Amount Beneficially Owned by Each Reporting Person
4,091,356+‡
|
12
|
Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
☐
|
13
|
Percent of Class Represented by Amount in Row (11)
32.23%*
|
14
|
Type of Reporting Person (See Instructions)
IN
|
+Reflects ownership as of the date
this filing was filed with the Securities and Exchange Commission.
‡Consists of 4,091,356 shares
of common stock held by Lana Management & Business Research International, LLC.
*Based on 12,694,265 shares of common stock, $0.0001
par value per share, of Bluejay Diagnostics, Inc. outstanding as of November 15, 2021, as reported on the Issuer’s prospectus filed
with the Securities and Exchange Commission in connection with its initial public offering that closed on November 15, 2021.
CUSIP No. 095633103
|
13D
|
Page 4 of 10 Pages
|
1
|
Names of Reporting Persons
Lana Management & Business Research International, LLC
|
2
|
Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) ☒
(b) ☐
|
3
|
SEC Use Only
|
4
|
Source of Funds (See Instructions)
OO/AF
|
5
|
Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
☐
|
6
|
Citizenship or Place of Organization
Massachusetts
|
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
7
|
Sole Voting Power
0
|
8
|
Shared Voting Power
4,091,356+‡
|
9
|
Sole Dispositive Power
0
|
10
|
Shared Dispositive Power
4,091,356+‡
|
11
|
Aggregate Amount Beneficially Owned by Each Reporting Person
4,091,356+‡
|
12
|
Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
☐
|
13
|
Percent of Class Represented by Amount in Row (11)
32.23%*
|
14
|
Type of Reporting Person (See Instructions)
OO
|
+Reflects ownership as of the date
this filing was filed with the Securities and Exchange Commission.
‡Consists of 4,091,356 shares
of common stock held by Lana Management & Business Research International, LLC.
*Based on 12,694,265 shares of common stock, $0.0001
par value per share, of Bluejay Diagnostics, Inc. outstanding as of November 15, 2021, as reported on the Issuer’s prospectus filed
with the Securities and Exchange Commission in connection with its initial public offering that closed on November 15, 2021.
CUSIP No. 095633103
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13D
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Page
5 of 10 Pages
|
Item 1. Security and Issuer.
This Schedule 13D relates
to the common stock, par value $0.0001 per share (the “Common Stock”), of Bluejay Diagnostics, Inc., a Delaware corporation
(“Issuer”), whose principal executive offices are located at 360 Massachusetts Avenue, Suite 203, Acton, MA 01720.
Information given in response to each item shall be deemed incorporated by reference in all other items as applicable.
Item 2. Identity and Background.
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a.
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This statement is being filed jointly by Indranil (Neil) Dey (“Mr. Dey”), and Svetlana
Dey (“Ms. Dey”) Lana Management & Business Research International, LLC (“LMBRI”), a Massachusetts
limited liability company (“LMBRI” and together with Mr. Dey and Ms. Dey, the “Reporting Persons”).
Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 6 and attached hereto as Exhibit
1. Accordingly, the Reporting Persons are hereby filing this joint Schedule 13D.
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|
b.
|
The business address of each of the Reporting Persons is c/o Bluejay Diagnostics, Inc. at 360 Massachusetts
Avenue, Suite 203, Acton, MA 01720.
|
|
c.
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The primary purpose of LMBRI is to engage in management consulting with a focus on product launch and
marketing in the medical field in the U.S., Japan and E.U. LMBRI is owned and controlled by Mr. Dey and Ms. Dey. Ms. Dey has served as
LMBRI’s President and Chief Executive Officer (“CEO”) since 2008. Ms. Dey has voting and dispositive power over
the shares held by LMBRI. Ms. Dey is married to Mr. Dey.
|
Mr. Dey is a member
of the Issuer’s Board of Directors (the “Board”) and he also serves as the President and Chief Executive Officer of
Issuer. Mr. Dey co-founded Bluejay Diagnostics in 2015. Ms. Dey has been member of Issuer’s Board since 2015. Ms. Dey
co-founded Bluejay Diagnostics in 2015. Mr. Dey and Ms. Dey co-founded LMBRI in 2008. Ms. Dey is married to Mr.
Dey.
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d.
|
During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
|
|
e.
|
During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order finding any violation with respect
to federal or state securities laws or enjoining future violations of, or prohibiting or mandating activities subject to, such laws.
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|
f.
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Mr. Dey and Ms. Dey are a citizen of the United States of America. LMBRI is a Massachusetts limited liability
company.
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CUSIP No. 095633103
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13D
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Page
6 of 10 Pages
|
Item 3. Source and Amount of Funds or Other
Consideration.
On November 15, 2021, the
Issuer closed its initial public offering (the “IPO”) of 2,160,000 Units, with each unit consisting of: (a) one share
of the Issuer’s common stock, $0.0001 par value per share (the “Common Stock”), (b) one Class A warrant (the “Class
A Warrants”) to purchase one share of Common Stock at an exercise price equal to $7.00 per share, exercisable until the fifth
anniversary of the issuance date, and (c) one Class B warrant (the “Class B Warrants,” and together with the Class
A Warrants, the “Warrants”) to purchase one share of Common Stock at an exercise price equal to $10.00 per share, exercisable
until the fifth anniversary of the issuance date (the “IPO”).
Prior to the IPO, in the aggregate,
Mr. Dey directly or indirectly beneficially owned 4,540,148 shares of Common Stock, which consisted of: (i) 447,060 shares of Common Stock
owned directly, (ii) shares underlying a warrant to purchase 945 shares of Common Stock, at an exercise price of $2.30 per share, owned
directly, (iii) shares underlying a warrant to purchase 787 shares of Common Stock, at an exercise price of $0.95 per share, owned directly,
and (iv) 4,091,356 shares of Common Stock owned by LMBRI, which, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934,
as amended, may be deemed to be beneficially owned by Mr. Dey.
Prior to the IPO, in the aggregate,
LMBRI, an entity owned and controlled by Mr. Dey and Ms. Dey, beneficially owned 4,091,356 shares of the Issuer’s Common Stock.
Ms. Dey has served as LMBRI’s President and CEO since 2008. Ms. Dey has voting and dispositive power over the shares held by LMBRI.
As a result of the foregoing,
prior to the IPO, and for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Ms. Dey may be deemed to beneficially
own, in the aggregate, 4,091,356 shares of Common Stock or 32.23% of the Common Stock of the Issuer as of the date of this filing.
Prior to the IPO, in the aggregate,
Ms. Dey beneficially owned 4,091,356 shares of the Issuer’s Common Stock owned by LMBRI, which shares were also deemed to be indirectly
owned by Ms. Dey.
2020 Subordinated Promissory Notes
On October 22, 2020, the
Issuer issued $154,000 in subordinated promissory notes (“Subordinated Notes”) to the Issuer’s shareholders,
including $30,000 to LMBRI. The Subordinated Notes accrued interest at 8% payable at each quarter end and had a maturity date of March 31,
2021. The Issuer defaulted on the Subordinated Notes on March 31, 2021, and the Subordinated Notes started to accrue 15% penalty
interest starting on the date of default.
In conjunction with the issuance
of the Subordinated Notes, the Issuer issued to each noteholder warrants to purchase shares of the Issuer’s common stock (“Common
Stock Warrants”) totaling 4,846,688 Common Stock Warrants, of which 944,160 were issued to LMBRI.
On June 7, 2021, the holders
of $132,383 in principal of the 2020 Subordinated Promissory Notes elected to exercise their warrants into 4,166,357 shares of common
stock, with the principal from those notes applied to the exercise price of the warrants. The remaining $21,617 principal amount of the
2020 Subordinated Promissory Notes was repaid in cash and the related warrants to purchase 680,331 shares of common stock remain
outstanding at June 30, 2021. LMBRI received 4,091,356 shares of common stock in connection with this exercise of warrants.
CUSIP No. 095633103
|
13D
|
Page
7 of 10 Pages
|
Item 4. Purpose of Transaction.
The Reporting Persons acquired
the securities reported herein for investment in the ordinary course of business because of their belief that the Issuer represents an
attractive investment based on the Issuer’s business prospects and strategy. The Reporting Persons reserve the right to acquire,
or cause to be acquired, additional securities of the Issuer, to dispose of, or cause to be disposed of, such securities at any time or
to formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light
of general investment and trading policies of the Reporting Persons, market conditions or other factors.
Except as set forth in this
Schedule 13D, the Reporting Persons do not have any plan or proposal that would relate to, or result in, any of the following matters:
(a) The acquisition by any
person of additional securities of the Issuer, or the disposition of securities of the Issuer;
(b) An extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c) A sale or transfer of
a material amount of assets of the Issuer or of any of its subsidiaries;
(d) Any change in the present
board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill
any existing vacancies on the board;
(e) Any material change in
the present capitalization or dividend policy of the Issuer;
(f) Any other material change
in the Issuer’s business or corporate structure;
(g) Changes in the Issuer’s
charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any
person;
(h) Causing a class of securities
of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation
system of a registered national securities association;
(i) A class of equity securities
of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or
(j) Any action similar to
any of those enumerated above.
Each of the Reporting Persons
reserves the right to propose or participate in future transactions which may result in one or more of the above listed actions, including
but not limited to, an extraordinary corporate transaction, such as a merger, reorganization or liquidation, sale of a material amount
of assets of the Issuer or its subsidiaries, or other transactions which might have the effect of causing the Common Stock to become eligible
for termination of registration under Section 12(g) of the Act. The Reporting Persons also retain the right to change their investment
intent at any time, to acquire additional shares of Common Stock or other securities of the Issuer from time to time, or to sell or otherwise
dispose of all or part of the Common Stock beneficially owned by them (or any shares of Common Stock into which such securities are converted)
in any manner permitted by law. The Reporting Persons may engage from time to time in ordinary course transactions with financial institutions
with respect to the securities described herein.
CUSIP No. 095633103
|
13D
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Page
8 of 10 Pages
|
Item 5. Interest in Securities of Issuer.
(a) and (b)
The information contained
in rows 7, 8, 9, 10, 11 and 13 of the cover pages for each Reporting Person and the information set forth in Item 2, Item 3 and Item 6
of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 5.
The aggregate percentage
of Common Stock reported owned by the Reporting Persons is 35.76% and is based upon 12,694,265 shares of Common Stock outstanding as of
November 15, 2021, as reported on the Issuer’s prospectus filed with the Securities and Exchange Commission in connection with its
initial public offering that closed on November 15, 2021.
As of the date hereof,
LMBRI is owned and controlled by Mr. Dey and Ms. Dey. Ms. Dey has served as LMBRI’s President and CEO since 2008, and has voting
and dispositive power over the shares held by LMBRI. Mr. Dey also owns 448,792 shares of Common Stock directly. Mr. Dey, directly and/or
indirectly, possesses the voting and dispositive power of all securities of the Issuer held by himself directly. As a result of the foregoing,
and for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Mr. Dey may be deemed to beneficially own 4,540,148
shares of Common Stock or 35.76% of the Common Stock of the Issuer As a result of the foregoing, and for purposes of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended, Ms. Dey may be deemed to beneficially own 4,091,356 shares of Common Stock or 32.23%
of the Common Stock of the Issuer as of the date of this filing.
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(c)
|
Except as described herein (see Item 3), during the past sixty
(60) days there were no other purchases or sales of shares of Common Stock, or securities convertible into or exchangeable for shares
of Common Stock, by the Reporting Persons or any person or entity for which the Reporting Persons possess voting or dispositive control
over the securities thereof.
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(d)
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Other than as described in this Schedule 13D, to the knowledge
of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or proceeds
from the sale of, the shares of Common Stock beneficially owned by the Reporting Persons.
|
Item
6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
Reference is made to the descriptions
of relationships among the Reporting Persons in Item 2, which are incorporated by reference in this Item 6.
Joint Filing Agreement
The Reporting Persons have
entered into a Joint Filing Agreement pursuant to which, among other things, the Reporting Persons agreed to the joint filing on behalf
of each of them of statements on Schedule 13D with respect to the securities of the Issuer.
CUSIP No. 095633103
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13D
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Page 9 of 10 Pages
|
Expense Sharing Agreement
The Issuer and LMBRI are party
to a an expense sharing agreement (the “Expense Sharing Agreement”), pursuant to which Issuer reimburses LMBRI monthly for
certain shared expenses, including insurance, rent, salaries, telephone, and other miscellaneous expenses. Issuer is billed up to $4,000 monthly
for these expenses. During each of the years ended December 31, 2020 and 2019, Issuer paid or accrued to LMBRI $48,000 for these
shared expenses.
Since our inception, LMBRI
has advanced funds on behalf of Issuer for operational purposes and for FDA pre-submission funding purposes. Amounts payable to LMBRI
from Issuer at June 30, 2021 and December 31, 2020 were $115,102 and $125,102, respectively, and are included in due to related
party on the condensed consolidated balance sheets. The outstanding balance due to LMBRI is payable upon demand.
Lock-Up Agreements
In connection with the IPO,
each of Mr. Dey, Ms. Dey and LMBRI entered into “lock-up” agreements in favor of the underwriter, pursuant to which each of
Mr. Dey, Ms. Dey and LMBRI agreed, subject to certain exceptions, not to offer, issue, sell, contract to sell, encumber, grant any option
for the sale of or otherwise dispose of any shares of Issuer’s Common Stock or other securities convertible into or exercisable
or exchangeable for shares of Issuer’s Common Stock for a period of six months after the IPO is completed without the prior written
consent of the representative of the underwriters.
Employment Agreement
In July 2021, the Issuer entered
into an employment agreement (the “Employment Agreement”) with Mr. Dey pursuant to which Mr. Dey agreed to serve
as the Issuer’s Chief Executive Officer and President. The Employment Agreement provided for an initial annual salary of $250,000,
which increased to $350,000 upon the closing of the IPO. Mr. Dey may receive an annual bonus, provided that the final determination
on the amount of the annual bonus, if any, will be made by the Compensation Committee of the Board, based on criteria established by the
Compensation Committee. The targeted annual bonus for 2021 is 50% of Mr. Dey’s base salary, and is payable in a combination
of cash and options to purchase our common stock, as determined in the sole discretion of the Compensation Committee. If Mr. Dey’s
employment is terminated at our election without “cause” (as defined in the Employment Agreement), Mr. Dey shall be entitled
to receive severance payments equal to twelve months of Mr. Dey’s base salary and he shall also receive a pro rata portion
of the target annual bonus for such year.
Each of the Joint Filing Agreement,
Form of Lock-Up Agreement and Employment Agreement, which are attached hereto as Exhibits 1, 2 and 3, respectively, are incorporated by
reference herein.
Item 7. Materials to be Filed as Exhibits.
CUSIP No. 095633103
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13D
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Page 10 of 10 Pages
|
SIGNATURES
After reasonable inquiry and
to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 22, 2021
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/s/ Indranil Dey
|
|
Indranil (Neil) Dey
|
|
|
|
/s/ Svetlana
Dey
|
|
Svetlana Dey
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|
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LANA MANAGEMENT & BUSINESS RESEARCH
INTERNATIONAL, LLC
|
|
|
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By:
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/s/ Svetlana
Dey
|
|
|
Svetlana Dey
|
|
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President and Chief Executive Officer
|