The offering was priced at-the-market under Nasdaq regulations, with common stock shares—or pre-funded warrants—sold at $6.122 per unit. As part of the transaction, bioAffinity issued warrants to purchase up to 980,072 shares of common stock. These warrants carry an exercise price of $6.122 and are slated to become exercisable following formal stockholder approval, with a five-year expiration window from that date.

WallachBeth Capital served as the sole placement agent for the deal. Proceeds from the financing are earmarked for general corporate purposes and specifically to scale sales operations for CyPath Lung, a noninvasive diagnostic tool designed for the early detection and monitoring of lung disease. The offering was conducted under a shelf registration statement previously declared effective by the U.S. Securities and Exchange Commission in November 2023.