Full Press Release Details
Technologies, Inc. Announces Approximately $1.8 Million Registered Direct Financing of Common Stock Priced At-The-Market Under Nasdaq
ANTONIO, Texas (October 8, 2025) - bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) a biotechnology company
focused on the need for noninvasive tests for the detection of early-stage cancer, today announced that it has entered into definitive
agreements for the purchase and sale of 720,000 shares of common stock, par value $0.007 per share, at a purchase price of $2.50 per
share in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or
about October 9, 2025, subject to the satisfaction of customary closing conditions.
Capital, LLC is acting as sole placement agent for the offering.
gross proceeds to the Company from the offering are expected to be approximately $1.8 million before deducting placement agent fees and
other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital, to
support expected growing sales for CyPath Lung, its noninvasive test for lung cancer, and general corporate purposes.
common stock described above is being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File
No. 333-275608) previously filed with the U.S. Securities and Exchange Commission ("SEC"), under the Securities Act of 1933,
as amended (the "Securities Act"), and declared effective by the SEC on November 27, 2023. The offering of the shares of
common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration
statement. A prospectus supplement describing the terms of the proposed registered direct offering and accompanying prospectus will be
filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, on the
SEC's website at https://www.sec.gov or by contacting WallachBeth Capital, LLC, via email at cap-mkts@wallachbeth.com,
by calling +1-646-237-8585, or by standard mail at WallachBeth Capital LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410, Jersey
City, NJ 07311, USA.
press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities
in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.
bioAffinity Technologies, Inc.
Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and other diseases of the lung and broad-spectrum
cancer treatments. The Company's first product, CyPath Lung, is a noninvasive test that has shown high sensitivity,
specificity and accuracy for the detection of early-stage lung cancer. CyPath Lung is marketed as a Laboratory Developed Test (LDT)
by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. For more information, visit www.bioaffinitytech.com.
statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws.
Words such as "may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast," "project,"
"plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are
forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult
to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied
by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include,
among others, the ability to close the offering when anticipated on October 9, 2025, and the risk factors discussed in the Company's
Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic
reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements
are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable,
readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release
is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement
relating to matters discussed in this press release, except as may be required by applicable securities laws.