Company: BIAF
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0001641172-25-004857
Chunk: 36

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 36
---
 to sell, and brokerage
commissions and other costs of transactions in odd lots are generally higher than the costs of transactions in “round lots”
of even multiples of 100 shares. The Board believes, however, that these potential effects are outweighed by the benefits of the Reverse
Stock Split.

Effectiveness of the Reverse Stock Split.The
Reverse Stock Split, if approved by our stockholders, would become effective upon the filing and effectiveness (the “Effective Time”) of an amendment to our Certificate of Incorporation with the Secretary of State of the State of Delaware, which would
take place at the Board’s discretion. The exact timing of the filing of the Reverse Stock Split Amendment, if filed, would be determined
by the Board based on its evaluation as to when such action would be the most advantageous to us and our stockholders. In addition, the
Board reserves the right, notwithstanding stockholder approval and without further action by the stockholders, to elect not to proceed
with the Reverse Stock Split at any time prior to filing the Reverse Stock Split Amendment with the Secretary of State of the State of
Delaware, if the Board, in its sole discretion, determines that it is no longer in our best interests or the best interests of our stockholders
to proceed with the Reverse Stock Split. If our Board does not implement the Reverse Stock Split prior to the one-year anniversary of
the date on which the Reverse Stock Split is approved by our stockholders at the Annual Meeting, the authority granted in this proposal
to implement the Reverse Stock Split will terminate and the Reverse Stock Split will be abandoned.

Effect on Par Value; Reduction in Stated Capital.The proposed Reverse Stock Split will not affect the par value of our stock, which will remain at $0.007 per share of Common Stock
and $0.001 per share of Preferred Stock. As a result, the stated capital on our balance sheet attributable to our Common Stock, which
consists of the par value per share of Common Stock multiplied by the aggregate number of shares of Common Stock issued and outstanding,
will be reduced in proportion to the Reverse Stock Split Ratio selected by the Board. Correspondingly, our additional paid-in capital
account, which consists of the difference between our stated capital and the aggregate amount paid to the Company upon issuance of all
currently outstanding shares of the Common Stock, will be increased by the amount by which the stated capital is reduced. Our stockholders’
equity, in the aggregate, will remain unchanged.

Book-Entry Shares.If the Reverse