Company: BIAF
Filing Date: 2025-09-24
Form Type: S-1
Source: 0001493152-25-014730
Chunk: 20

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-09-24
Form: S-1
Chunk 20
---
 net proceeds from sale of shares of Common Stock (or Pre-Funded Warrants in lieu thereof) offered by us in this offering will be approximately $3.4 million (assuming an offering with gross proceeds of $4.0 million), assuming all shares of Common Stock offered are sold, after deducting the Placement Agent fees and estimated offering expenses payable by us. However, because this is a best efforts offering and there is no minimum offering amount required as a condition to the closing of this offering, the actual offering amount, the Placement Agent’s fees and net proceeds to us are not presently determinable and may be substantially less than the maximum amounts set forth on the cover page of this prospectus.

We intend to use the net 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 21,666 shares of Common Stock that we issued on October 21, 2024          
 upon the exercise of warrants, at the reduced exercise price of $6.90                                                              
 per share, and our receipt of approximately $149,500 in proceeds upon such exercise, (ii) an aggregate of 15,000                   
 shares of Common Stock that we issued on August 5, 2024, upon the exercise of warrants, at the reduced exercise price of $6.90     
 per share, and our receipt of approximately $103,500 in proceeds upon such exercise, (iii) an aggregate of 114,675 shares          
 of Common Stock were sold under the Company’s ATM Agreement, and our receipt of approximately $1.2 million 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