Company: BIAF
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016338
Chunk: 18

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-09-30
Form: 424B4
Chunk 18
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, and our receipt of approximately $1.3 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 (v) an aggregate of 673,661 shares of Common Stock that we issued upon the exercise of warrants, at the reduced exercise price of $4 .50per share, and our receipt of approximately $3.0 million in proceeds upon such exercise, (vi) an aggregate of 39,782 shares of Common Stock that we issued on August 13, 2025, upon the conversion of 274.5 shares of Series B Convertible Preferred Stock, (vii) an aggregate of 105,260 shares of Common Stock that we issued in May 7, 2025, upon the exercise of warrants through a cashless transaction.

Dilution represents the difference between the amount per share paid by purchasers in this offering and the pro forma as adjusted net tangible book value per share of Common Stock after the offering. After giving effect to the issuance and sale of 1,921,761 shares of Common Stock (or Pre-Funded Warrants in lieu thereof) in this offering at the public offering price of $2.50 per share, and after deducting estimated underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net tangible book value as of June 30, 2025, would have been $1.19 per share. This represents an immediate increase in net tangible book value of $0.99 per share to existing stockholders and an immediate dilution in net tangible book value of $1.31 per share to purchasers of Common Stock in this offering, based on the public offering price of $2.50 per share. The following table illustrates this per share dilution:

| Public offering price per share of Common Stock                                                 
 Historical net tangible book value per share as of June 30, 2025                                |     |   |  2.50 
 (4.52 | ) |
|:------------------------------------------------------------------------------------------------|:----|:--|------:|:--|
| Pro forma net tangible book value per share                                                     |     | $ |  0.20 |   |
| Increase in pro forma net tangible book value per share attributable to this offering           |     | $ |  0.99 |   |
| Pro forma as adjusted net tangible book value