Company: BIAF
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001641172-25-025247
Chunk: 19

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-22
Form: DRS
Chunk 19
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 proceeds of this offering for working capital and other general corporate purposes.

This expected use of the net proceeds from this offering represents our intentions based upon our current plans and business conditions. Pending our application of the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including short-term, investment grade, interest bearing instruments and U.S. government securities.

| 13 |

<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 650,000 shares of Common Stock that we issued on October 21, 2024 upon the     
 exercise of warrants, at the reduced exercise price of $0.23 per share, and our receipt                                                 
 of approximately $149,500 in proceeds upon such exercise, (ii) an aggregate of 450,000 shares                                           
 of Common Stock that we issued on August 5, 2024, upon the exercise of warrants, at the reduced exercise price of $0.23                 
 per share, and our receipt of approximately $103,500 in proceeds upon such exercise, (iii) an aggregate of 9,071 shares of Common       
 Stock were sold under the Company’s ATM Agreement, and our receipt of approximately $3,000 in proceeds upon the sale, and (iv)          
 an aggregate of 990 shares of Series B Convertible Preferred Stock were issued on August 13, 2025, and our receipt of approximately     
 $990,000 in proceeds upon issuance; and                                                                                                 |
|:--|:----------------------------------------------------------------------------------------------------------------------------------------|
| ● | on                                                                                                                                      
 a pro forma, as adjusted basis to give effect to the pro forma adjustments and issuance and sale by us of shares of Common Stock        
 at an assumed public offering price of $* per share and accompanying August 2025 Warrants (assuming no sale of Pre-Funded Warrants      
 or exercise of the August 2025 Warrants being offered in this offering) and the receipt of $* in aggregate net proceeds after deducting 
 the Placement Agent fees and estimated offering costs payable by us.                                                                    |

|                                                                                                                                                                                                                                                        |     | As of June 30, 2025 |             |   |     |           |     |                 |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--------------------|------------:|: