Company: BIAF
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001641172-25-008629
Chunk: 85

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 85
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 would decrease our as adjusted net tangible book value by approximately $0.5 million, or approximately $0.01 per share, and increase the dilution per share to investors in this offering by approximately $0.01 per share, assuming the assumed combined offering price of $0.499 per share of Common Stock and accompanying May 2025 Warrant remains the same and after deducting the estimated Placement Agent fees and estimated offering expenses payable by us. The information discussed above is illustrative only and will be adjusted based on the actual public offering price and other terms of this offering as determined between us and the Placement Agent at pricing.

The information above is based on 15,576,674 shares of Common Stock outstanding as of December 31, 2024, and excludes, as of that date:

| ● | 12,298,124                                                                                         
 shares of Common Stock issuable upon the exercise of outstanding warrants with a weighted          
 average exercise price equal to $2.95 per share;                                                   |
| ● | 304,125                                                                                            
 shares                                                                                             
 of Common Stock issuable upon the exercise of stock options issued under our equity incentive      
 plans with a weighted average exercise price equal to $6.95 per share;                             |
| ● | 1,480,208                                                                                          
 shares of our Common Stock that are reserved for equity awards that may be granted under           
 our 2024 Equity Incentive Plan;                                                                    |
| ● | 75,074,993                                                                                         
 shares of Common Stock issuable upon the exercise of May 2025 Warrants sold in this                
 offering; and                                                                                      |
| ● | 210,420                                                                                            
 shares of Common Stock issuable upon the exercise of Placement Agent Warrants issued in connection 
 with this offering.                                                                                |

| 38 |

<div align='center'>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</div>

The following table sets forth information regarding the beneficial ownership of shares of the Company’s Common Stock as of April 25, 2025, by (1) each person known to the Company to beneficially own more than 5% of any class of the Company’s outstanding voting securities, (2) each director, (3) each of our named executive officers, and (4) all of the Company’s current executive officers and directors as a group.

Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole