Company: BGLC
Filing Date: 2025-11-07
Form Type: S-3
Source: 0001477932-25-007976
Chunk: 42

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-07
Form: S-3
Chunk 42
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 5, 2025, and after deducting Maxim fees and estimated offering expenses payable by us in connection with this offering, our pro forma as adjusted net tangible book value as of June 30, 2025 would have been approximately $10,927,108, or $4.45 per share. This represents an immediate increase in net tangible book value of $0.26 per share to our existing shareholders and an immediate dilution of $0.94 per share to the investors participating in this offering.

The following table illustrates this per-share dilution of our common stock:

| Assumed offering price per share                                                      
 Net tangible book value per share as of June 30, 2025                                 
 Pro forma net tangible book value per share as of June 30, 2025                       |     |     | 4.19 
 4.45 |     |   | 5.39 |
|:--------------------------------------------------------------------------------------|:----|:----|-----:|:----|:--|-----:|
| Increase to pro forma net tangible book value per share attributable to this offering |     |     | 0.26 |     |   |      |
| Pro forma as adjusted net tangible book value per share after this offering           |     |     |      |     | $ | 4.45 |
| Dilution per share to new investors in this offering                                  |     |     |      |     | $ | 0.94 |

The table above assumes for illustrative purposes that an aggregate 659,925 shares of our common stock are sold during the term of the Equity Distribution Agreement with Maxim at an assumed offering price of $5.39 per share, the last reported sale price of our common stock on Nasdaq Capital Market on November 5, 2025, for aggregate gross proceeds of $3,557,000. The shares subject to the Equity Distribution Agreement with Maxim are being sold from time to time at various prices.

An increase of $0.40 per share in the price at which the shares are sold from the assumed offering price of $5.39 per share shown in the table above, assuming all of our common stock in the aggregate amount of $3,557,000 during the term of the Equity Distribution Agreement with Maxim is sold at that price, would increase the dilution in pro forma as adjusted net tangible book value per share to new investors in this offering to approximately $1.260 per share, after deducting commissions and estimated aggregate offering expenses payable by us