Company: BIAF
Filing Date: 2025-10-09
Form Type: 424B5
Source: 0001493152-25-017591
Chunk: 12

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-10-09
Form: 424B5
Chunk 12
---
 issuance and (v) an aggregate of 673,661 shares of common stock that we issued upon the exercise of warrants, at the reduced exercise price of $4 .50per share, and our receipt of approximately $3.0 million in proceeds upon such exercise, (vi) an aggregate of 39,782 shares of common stock that we issued on August 13, 2025, upon the conversion of 274.5 shares of Series B Convertible Preferred Stock, (vii) an aggregate of 105,260 shares of common stock that we issued in May 7, 2025, upon the exercise of warrants through a cashless transaction, and (vii) an aggregate of 1,921,761 shares of common stock that were sold in the Company’s public offering on September 30, 2025 at a price of $2.50 per share and our receipt of approximately $4.1 million in net proceeds.

Dilution represents the difference between the amount per share paid by purchasers in this offering and the pro forma as adjusted net tangible book value per share of common stock after the offering. After giving effect to the issuance and sale of 720,000 shares of common stock in this offering at the offering price of $2.50 per share, and after deducting estimated underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net tangible book value as of June 30, 2025, would have been $1.19 per share. This represents an immediate increase in net tangible book value of $0.15 per share to existing stockholders and an immediate dilution in net tangible book value of $1.16 per share to purchasers of common stock in this offering, based on the offering price of $2.50 per share. The following table illustrates this per share dilution:

| Offering price per share of common stock                                                        
 Historical net tangible book value per share as of June 30, 2025                                |     |   |  2.50 
 (4.52 | ) |
|:------------------------------------------------------------------------------------------------|:----|:--|------:|:--|
| Pro forma net tangible book value per share                                                     |     | $ |  0.20 |   |
| Increase in pro forma net tangible book value per share attributable to this offering           |     | $ |  0.15 |   |
| Pro forma as adjusted net tangible book value per share after giving effective to this offering |     | $ |