Company: BIAF
Filing Date: 2025-10-09
Form Type: 424B5
Source: 0001493152-25-017591
Chunk: 10

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-10-09
Form: 424B5
Chunk 10
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| S-4 |

<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds from this offering will be approximately $1.5 million, after deducting WallachBeth’s fees and the estimated offering expenses payable by us.

The precise amount and timing of the application of such net proceeds will depend upon our funding requirements and the availability and cost of other funds. Our Board and management will have considerable discretion in the application of the net proceeds from this offering, and it is possible that we may allocate the proceeds differently than investors in the offering may desire or that we may fail to maximize the return on these proceeds. You will be relying on the judgment of our management with regard to the use of proceeds from this offering, and you will not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately.

We intend to use the proceeds of this offering for working capital and general corporate purposes, which may include laboratory test and therapeutic product development, general and administrative matters, and capital expenditures.

We may temporarily invest the net proceeds in short-term, interest-bearing instruments or other investment-grade securities.

<div align='center'>DIVIDEND POLICY</div>

We have not declared or paid dividends to holders of our common stock since inception and do not plan to pay cash dividends in the foreseeable future.

| S-5 |

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

The following table sets forth our capitalization:

| ● 
 ● | on                                                                                                                                        
 an actual basis as of June 30, 2025;                                                                                                      
 on                                                                                                                                        
 a pro forma basis to give effect to: (i) an aggregate of 21,666 shares of common stock upon the exercise of warrants that were originally 
 issued on October 21, 2024, at the reduced exercise price of $6.90 per share, and our                                                     
 receipt of approximately $149,500 in gross proceeds upon such exercise, (ii) an aggregate of 15,000                                       
 shares of common stock upon the exercise of warrants that were originally issued on August 5, 2024, at the reduced exercise price         
 of $6.90 per share, and our receipt of approximately $103,500 in gross proceeds                                                           
 upon such exercise, (iii) an aggregate of 114,672 shares of common stock were sold under the Company’s ATM Agreement, and our             
 receipt of approximately $1.2 million in net proceeds upon the sale, (iv) an aggregate of