Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 25

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 25
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 Stock Split would be approximately 2,845,954
shares. The Board of Directors’ decision as to whether and when to effect the Reverse Stock Split will be based on a number
of factors, including market conditions, existing and expected trading prices for the Common Stock, and the continued listing requirements
of the Nasdaq Capital Market. See below for a discussion of the factors that the Board considered in determining the Range, some of which
included, but was not limited to, the following: the historical trading price and trading volume of the Common Stock; the expected impact
of the Reverse Stock Split on the trading market for the Common Stock in the short-term and long-term, and general market, economic conditions,
and other related conditions prevailing in our industry.

The Reverse Stock Split, if effected,
will not change the number of authorized shares of Common Stock or Preferred Stock, or the par value of Common Stock or Preferred Stock;
however, effecting the Reverse Stock Split will provide for additional shares of authorized but unissued shares of Common Stock. As of
the date of this Proxy Statement, our current authorized number of shares of Common Stock is sufficient to satisfy all of our share issuance
obligations and current share plans, and we do not have any current plans, arrangements, or understandings relating to
the issuance of the additional shares of authorized Common Stock that will become available for issuance following the Reverse Stock
Split.

Purpose and Background of the Reverse Stock Split

The Board’s primary objective in asking for
authority to effect a reverse split is to increase the per-share trading price of our Common Stock. 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.

As background,
we received notice February 7, 2025, from Nasdaq notifying us of our noncompliance with Nasdaq Listing Rule 5550(a)(2) by failing
to maintain a minimum bid price for our Common Stock on Nasdaq of at least $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”). The notice has no immediate effect on the listing or trading of the Company’s Common Stock,
and the Common Stock will continue to trade on The Nasdaq Capital Market under the symbol “BIAF.” In accordance with
Nasdaq Listing Rule 581