Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 84

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 84
---
 or $(0.04) per share of Common Stock based upon 18,255,825 shares of Common Stock outstanding as of that date.

Our pro forma net tangible book value as of March 31, 2025 was $2.0 million or $0.07 per share, based on 28,459,541 shares of Common Stock outstanding as of June 27, 2025. Pro forma net tangible book value represents net tangible book value adjusted to take into account, subsequent to March 31, 2025, our issuance of: (i) 7,784,904 shares of Common Stock in our best efforts public offering consummated in May 2025 (the “May 2025 public offering”) and our receipt of approximately $2.7 million in net proceeds; (ii) 2,361,224 shares of Common Stock upon the exercise of certain pre-funded warrants issued in our May 2025 public offering and our receipt of approximately $16,500 upon such exercise; (iii) 70,313 shares of Common Stock upon the exercise of warrants at an exercise price of $0.352 per share and our receipt of approximately $25,000 upon such exercise; and (iv) the cancellation of an aggregate of 12,725 shares of restricted Common Stock.

After giving effect to our issuance of 2,591,586 shares of Common Stock upon the assumed exercise of the remaining outstanding Warrants, consisting of: (i) 565,333 shares of Common Stock issuable upon exercise of outstanding March 2024 Warrants, at an exercise price of $1.64 per share, and our receipt of approximately $927,000 in proceeds upon such exercise; (ii) 499,862 shares of Common Stock issuable upon exercise of outstanding August 2024 Warrants, at an exercise price of $1.50 per share, and our receipt of approximately $750,000 in proceeds upon such exercise; and (iii) 1,526,391 shares of Common Stock issuable upon exercise of outstanding October 2024 Warrants, at an exercise price of $1.50 per share, and our receipt of approximately $2.34 million in proceeds upon such exercise, our pro forma as adjusted net tangible book value as of March 31, 2025 would have been approximately $6.0 million, or $0.19 per share. This represents an immediate increase in net tangible book value of $0.12 per share to existing stockholders