Company: BIAF
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001641172-25-004915
Chunk: 81

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: DRS
Chunk 81
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 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 243,110 shares of restricted Common Stock to officers, directors, employees and/or consultants; and (iv) 9,634 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 shares of Common Stock and accompanying April 2025 Warrants in this offering at an assumed offering price of $[___] per share, which was the closing price of our Common Stock as reported on the Nasdaq Capital Market on [___], and after deducting Placement Agent fees and estimated offering expenses payable by us, and assuming no sale of any Pre-Funded Warrants in this offering, no exercise of the April 2025 Warrants or Placement Agent Warrants being offered in this offering, that no value is attributed to such warrants and that such warrants are classified as and accounted for as equity, our as adjusted net tangible book value would have been $[___] per share. This represents an immediate increase in net tangible book value of $[ ] per share to existing stockholders and an immediate dilution in net tangible book value of $[ ] per share to investors purchasing securities in this offering at the assumed offering price.

The following table illustrates the dilution on a per share basis:

| Assumed public offering price per share                              |     |   |      |     | $ | [  ] |
| Historical net tangible book value per share as of December 31, 2024 |     | $ | 0.03 |     |   |      |
| Pro forma net tangible book value per share                          |     | $ | 0.10 |     |   |      |
| Increase in pro forma net tangible book value                        
 per share attributable to this offering                              |     | $ |    [ 
    ] |     |   |      |
| Pro forma as adjusted net tangible book