Company: BIAF
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016338
Chunk: 17

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-09-30
Form: 424B4
Chunk 17
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 date:                                                               |

| ● | 939,680                                                                                                                            
 shares of Common Stock issuable upon the exercise of outstanding warrants with a weighted average exercise price equal to $41.60   
 per share;                                                                                                                         |
| ● | 9,530                                                                                                                              
 shares of Common Stock issuable upon the exercise of stock options issued under our equity incentive plans with a weighted average 
 exercise price equal to $207.30 per share; and                                                                                     |
| ● | 41,908                                                                                                                             
 shares of our Common Stock that are reserved for equity awards that may be granted under our 2024 Equity Incentive Plan.           |

| 14 |

<div align='center'>DILUTION</div>

If you purchase securities in the offering, you will experience immediate dilution to the extent of the difference between the effective public offering price per share of $2.50 per share of Common Stock (and Common Stock underlying the Pre-Funded Warrants) and our as-adjusted net tangible book value per share immediately after the offering. Net tangible book value per share is equal to the amount of our total tangible assets, less total liabilities, divided by the number of outstanding shares of our Common Stock. As of June 30, 2025, our net tangible book value was approximately $(4.3) million, or approximately $(4.52) per share.

Our pro forma net tangible book value as of June 30, 2025, was approximately $(1.8) million or $(1.30) per share of Common Stock, based upon 1,375,102 shares of Common Stock outstanding as of September 18, 2025. Pro forma net tangible book value represents net tangible book value adjusted to take into account the issuance, subsequent to June 30, 2025, of: (i) an aggregate of 21,666 shares of Common Stock that we issued on October 21, 2024, upon the exercise of warrants, at the reduced exercise price of $6 .90per share, and our receipt of approximately $149,500 in proceeds upon such exercise and (ii) an aggregate of 15 ,000shares of Common Stock that we issued on August 5, 2024, upon the exercise of warrants, at the reduced exercise price of $6 .90per share, and our receipt of approximately $103,500 in proceeds upon such exercise, (iii) an aggregate of 114,672 shares of Common Stock were sold under the Company’s ATM Agreement