Company: BIAF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001641172-25-012410
Chunk: 14

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-27
Form: 424B5
Chunk 14
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 offering”) and our receipt of approximately $2.7 million in net proceeds; (ii) 1,836,454 shares of common stock upon the exercise of certain pre-funded warrants issued in our May 2025 public offering and our receipt of approximately $13,000 upon such exercise; and (iii) an aggregate of 82,733 shares of restricted common stock to officers, directors, employees and/or consultants.

After giving effect to the pro forma adjustments described in the preceding sentence and the sale of 21,071,558 shares of our common stock pursuant to the Sales Agreement in this offering at an assumed offering price of $0.2753 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market on May 22, 2025, and after deducting estimated offering commissions and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of March 31, 2025 would have been approximately $7.5 million, or $0.15 per share. This represents an immediate increase in pro forma net tangible book value of $0.08 per share to existing stockholders and an immediate dilution of $0.1253 per share to new investors purchasing securities in this offering. The following table illustrates this per share dilution:

| Assumed public offering price per share                                                                            |     |   |      |     | $ | 0.2753 |
| Pro forma net tangible book value per share as of March 31, 2025                                                   |     | $ | 0.07 |     |   |        |
| Increase in pro forma net tangible book value per share attributable to this offering                              |     | $ | 0.08 |     |   |        |
| Pro forma as adjusted net tangible book value per share as of March 31, 2025, after giving effect to this offering |     |   |      |     | $ |   0.15 |
| Dilution per share to new investors purchasing our common stock in this offering                                   |     |   |      |     | $ | 0.1253 |

The table above assumes for illustrative purposes that an aggregate of 21,071,558 shares of our common stock are sold during the term of the Sales Agreement with WallachBeth beginning on the date of this prospectus supplement at an assumed price of $0.2753 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on May