Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 795

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 795
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, 2024, was $1,343,390,
compared to no
proceeds during the year ended December 31, 2023.

On
March 8, 2024, the Company issued to certain investors (1) in a registered direct offering, 1,600,000 shares of the Company’s
Common Stock and (2) in a concurrent private placement, warrants to purchase an aggregate of 1,600,000 shares of Common Stock,
with an exercise price of $1.64 (collectively, the “Transaction”), which Transaction constitutes a Dilutive Issuance
under the terms of the warrants. In addition, the placement agent was granted warrants to purchase 32,000 shares of Common
Stock, with an exercise price of $1.64.

On
August 5, 2024, the Company entered into warrant exercise agreements with three existing accredited investors to exercise certain outstanding
warrants to purchase an aggregate of 1,041,667 of the Company’s shares of Common Stock (the “Existing Warrants”). The
exercising holders received in a private placement new unregistered warrants (the “New Warrants”) to purchase up to an aggregate
of 1,302,082 shares of Common Stock with an exercise price of $1.50 per share, which are initially exercisable on the date that stockholder
approval of the exercise of the New Warrants is obtained and will expire five years from the date of such approval. In connection with
the exercise of the Existing Warrants, the Company agreed to reduce the exercise price of the Existing Warrants from $1.64 to $1.25 per
share. The exercise of the Existing Warrants and the issuance of the New Warrants occurred on August 5, 2024. The change in the exercise price of the Existing Warrants resulted in a fair value adjustment  of $27,757 which
was recorded to Additional paid-in capital for the exercised warrants. 

On
August 5, 2024, the Company also entered into a securities purchase agreement with an institutional
investor (the “Purchaser”), pursuant to which the Company issued to the Purchaser, (1) in a registered direct offering, 360,000
shares of Common Stock, and (2) in a concurrent private placement, warrants (the “Private Warrants”) to purchase an aggregate
of 450,000 shares of Common Stock (the “Private