Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 65

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 65
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 our total tangible assets less total liabilities by the number of outstanding shares of our Common Stock. As of March 31, 2025, we had a net tangible book value of approximately $(0.7 million) or $(0.04) per share of Common Stock based upon 18,255,825 shares of Common Stock outstanding as of that date.

Our pro forma net tangible book value as of March 31, 2025 was $2.0 million or $0.07 per share, based on 28,459,541 shares of Common Stock outstanding as of June 27, 2025. Pro forma net tangible book value represents net tangible book value adjusted to take into account, subsequent to March 31, 2025, our issuance of: (i) 7,784,904 shares of Common Stock in our best efforts public offering consummated in May 2025 (the “May 2025 public offering”) and our receipt of approximately $2.7 million in net proceeds; (ii) 2,361,224 shares of Common Stock upon the exercise of certain pre-funded warrants issued in our May 2025 public offering and our receipt of approximately $16,500 upon such exercise; (iii) 70,313 shares of Common Stock upon the exercise of warrants at an exercise price of $0.352 per share and our receipt of approximately $25,000 upon such exercise; and (iv) the cancellation of an aggregate of 12,725 shares of restricted Common Stock.

After giving effect to our issuance of 4,360,829 shares of Common Stock upon the assumed exercise of the remaining outstanding Tradeable Warrants, Non-Tradeable Warrants, Representative’s Warrants and Placement Agent Warrants, consisting of: (i) 4,331,365 shares of Common Stock issuable upon exercise of: (a) outstanding Tradeable Warrants to purchase 1,601,255 shares of Common Stock; (b) outstanding Non-Tradeable Warrants to purchase 2,704,458 shares of Common Stock; and (c) outstanding Representative’s Warrants to purchase 25,652 shares of Common Stock, all at an exercise price of $3.0625 per share, and our receipt of approximately $13.3 million in proceeds upon such exercise and; (ii) 29,464 shares of Common Stock issuance upon the exercise of Placement Agent Warrants, at an exercise price of $7.35, and our receipt of approximately $217