Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 108

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 108
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| ● | We                                                                                                                                      
 raised approximately $1.4 million in gross proceeds from equity transactions to fund operating activities.                              |

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Recent Developments

On May 8, 2025, we released “CyPath ®Lung In Practice” authored by Gordon Downie, MD, PhD, Director of the Titus Regional Hospital Lung Nodule Clinic and Interventional Pulmonology, in which he presented his experience and approach to using CyPath ®Lung in medical practice, including four case studies in which CyPath ®Lung proved clinically determinative. Dr. Downie opined that “adding CyPath ®Lung to our algorithm has accelerated diagnosis, helped guide difficult clinical discussions, and prevented unnecessary invasive procedures.”

On May 7, 2025, we completed a public offering of securities for gross proceeds to us of $3.25 million, before deducting agent fees and other estimated expenses payable by us. The offering consisted of 10,156,250 shares of our Common Stock, of which 2,371,346 were pre-funded warrants, together with warrants to purchase up to 15,234,375 shares of Common Stock, at a combined offering price for each share of Common Stock (or pre-funded warrant) and accompanying warrant of $0.32 per share. The warrants have an exercise price of $0.352 per share and have certain provisions that allow for additional shares to be issued in the event of a reverse split of our Common Stock. Additionally, the warrants include an anti-dilution adjustment which is subject to stockholder approval.

On April 1, 2025, we increased the list price of CyPath ®Lung to $2,900 from $1,900 after evaluating reimbursement provisions in agreements executed with private insurance carriers to take best advantage of payment terms.

On March 7, 2025, we announced targeted strategic actions to improve financial performance and accelerate the commercial growth of CyPath ®Lung, taking steps to deliver up to $3 to $4 million in annual cost savings at our subsidiary PPLS, while increasing resources to expand CyPath ®Lung sales in high-potential national markets. Specifically, cost savings are a result of labor cost reductions, operational efficiency enhancements, and discontinuing certain unprofitable pathology services to focus on high-margin services such as CyPath ®Lung.

On February 26, 2025, we entered into a warrant inducement agreement with certain holders of existing warrants, such holders