Company: BIAF
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001641172-25-025247
Chunk: 22

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-22
Form: DRS
Chunk 22
---
 of shares of Common Stock to be outstanding immediately after this offering is based on 28,459,541 shares of Common Stock outstanding as of June 30, 2025, and excludes, as of such date:

| ● | 28,193,118                                                                                                                          
 shares of Common Stock issuable upon the exercise of outstanding warrants with a weighted average exercise price equal to $1.44 per 
 share;                                                                                                                              |
| ● | 304,125                                                                                                                             
 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 $6.95 per share; and                                                                                        |
| ● | 1,257,254                                                                                                                           
 shares of our Common Stock that are reserved for equity awards that may be granted under our 2024 Equity Incentive Plan.            |

Each $0.10 increase (decrease) in the public offering price, would increase (decrease) as adjusted net tangible book value per share to new investors by $* and would increase (decrease) dilution per share to existing investors in this offering by $*, assuming that the number of shares of Common Stock and warrants offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting Placement Agent fees and estimated offering expenses payable by us. Similarly, each increase or decrease of 1,000,000 in the number of shares of Common Stock offered by us would increase (decrease) our as pro forma as adjusted net tangible book value by approximately $* per share and increase (decrease) the dilution to new investors by $* per share, assuming the public offering price remains the same, and after deducting the Placement Agent fees and estimated offering expenses payable by us.

| 15 |

<div align='center'>DESCRIPTION OF SECURITIES</div>

Authorized Capital Stock

We are currently authorized to issue up to 350,000,000 shares of Common Stock, par value $0.007 per share, and 20,000,000 shares of Preferred Stock, par value $0.001 per share. As permitted by the Company’s Charter, the Company has designated (i) 5,400,000 shares of Preferred Stock as “Series A Convertible Preferred Stock,” par value $0.001 per share (the “Series A Preferred Stock”), of which no shares are outstanding, and (ii) 990 shares of Preferred Stock as “Series B Convertible Preferred Stock,” par