Company: BIAF
Filing Date: 2025-05-07
Form Type: 424B4
Source: 0001641172-25-008977
Chunk: 79

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-07
Form: 424B4
Chunk 79
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If you invest in our securities in this offering, your ownership interest will be diluted immediately to the extent of the difference between the public offering price paid by the purchasers of the shares of Common Stock (or Pre-Funded Warrants) and accompanying May 2025 Warrants sold in this offering and the pro forma as adjusted net tangible book value per share of Common Stock after this offering.

Net tangible book value per share is determined by dividing our total tangible assets less total liabilities by the number of outstanding shares of our Common Stock. As of December 31, 2024, we had a net tangible book value of approximately $0.4 million or $0.03 per share of Common Stock based upon 15,576,674 shares of Common Stock outstanding as of that date.

Our pro forma net tangible book value as of December 31, 2024 was approximately $1.6 million or $0.09 per share of Common Stock, based upon 18,246,331 shares of Common Stock outstanding as of May 5, 2025. Pro forma net tangible book value represents net tangible book value adjusted to take into account the issuance, subsequent to December 31, 2024, of: (i) an aggregate of 1,302,082 shares of Common Stock upon the exercise of common warrants that we issued on August 5, 2024, at the reduced exercise price of $0.58 per share, and our receipt of approximately $755,000 in proceeds upon such exercise, and (ii) an aggregate of 1,136,391 shares of Common Stock upon the exercise of common warrants that we issued on October 21, 2024, at the reduced exercise price of $0.58 per share, and our receipt of approximately $659,000 in proceeds upon such exercise; (iii) an aggregate of 235,908 shares of restricted Common Stock to officers, directors, employees and/or consultants; and (iv) 4,724 shares of restricted Common Stock that were cancelled related to grants issued prior to December 31, 2024.

Dilution represents the difference between the amount per share paid by purchasers in this offering and the as adjusted net tangible book value per share of Common Stock after the offering. After giving effect to the sale of 10,156,250 shares of Common Stock and accompanying May 2025 Warrants in this offering at an offering price of $0.32 per share and after deducting Placement Agent fees and estimated offering expenses