Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 71

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 71
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 activity, then the states can regulate or bar the sale of covered
securities in a particular case. Further, if we were to be delisted from The Nasdaq Capital Market, our Common Stock would cease to be
recognized as a covered security and we would be subject to regulation in each state in which we offer our securities.

We do not expect to pay dividends in the foreseeable future. Any return on investment may be limited to the value of our Common Stock.

We do not anticipate paying cash dividends on our
Common Stock in the foreseeable future. The payment of dividends on our Common Stock will depend on earnings, financial condition, and
other business and economic factors affecting it at such time as our Board of Directors (our “Board”) may consider relevant.
If we do not pay dividends, our Common Stock may be less valuable because a return on your investment will occur only if our stock price
appreciates.

Our Common Stock market price may never exceed the exercise price of our outstanding warrants.

Each Tradeable Warrant and Non-Tradeable Warrant that
we issued in our initial public offering has an exercise price of $3.0625. Our other outstanding warrants have exercise prices ranging
from $1.50 to $7.35. In the event our Common Stock price does not exceed the exercise price of the warrants during the period when they
are exercisable, the warrants may not have any value.

Holders of warrants have no rights as stockholders other than as set forth in the warrants until such holders exercise their warrants and acquire our shares of Common Stock.

Until holders of our warrants acquire shares of Common
Stock upon exercise thereof, such holders will have no rights with respect to the shares of Common Stock underlying the Warrants other
than as set forth in the Warrants. Upon exercise of the warrants, the holders will be titled to exercise the rights of a stockholder only
as to matters for which the record date occurs after the date they were entered in the register of members of the Company as a stockholder.

The warrant certificates governing our warrants designate the state and federal courts of the State of New York sitting in the City of New York, Borough of Manhattan, as the exclusive forum for actions and proceedings with respect to all matters arising out of the warrants, which could limit a warrant holder’s ability to choose the judicial forum for disputes arising out of the warrants.

The warrant certificates governing our warrants provide
that all legal proceedings concerning the interpretations, enforcement, and defense of the transactions contemplated by the warrant certificate
(