Company: BIAF
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0001641172-25-004857
Chunk: 28

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 28
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 to equal or to exceed the $1.00 minimum bid price requirement for more than 10 consecutive business days before determining
that a company complies.

If, however, the Company
does not achieve compliance with the Minimum Bid Price Requirement by August 6, 2025, the Company may be eligible for additional time
to comply. In order to be eligible for such additional time, the Company will be required to meet the continued listing requirement for
market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the
Minimum Bid Price Requirement, and must notify Nasdaq in writing of its intention to cure the deficiency during the second compliance
period. Accordingly, we are hereby asking our stockholders to approve a reverse split to, among other things, give us the option to seek
to regain compliance with the Minimum Bid Price Requirement.

| 16 |

The Board of Directors believes that the failure of
stockholders to approve the Reverse Stock Split Proposal could prevent us from maintaining compliance with the Minimum Bid Price Requirement
and could inhibit our ability to conduct capital raising activities, among other things. If Nasdaq delists the Common Stock, then the
Common Stock would likely become traded on an over-the-counter market such as those maintained by OTC Markets Group Inc., which do not
have the substantial corporate governance or quantitative listing requirements for continued trading that Nasdaq has. In that event, interest
in Common Stock may decline and certain institutions may not have the ability to trade in the Common Stock, all of which could have a
material adverse effect on the liquidity or trading volume of the Common Stock. If the Common Stock becomes significantly less liquid
due to delisting from Nasdaq, our stockholders may not have the ability to liquidate their investments in the Common Stock as and when
desired and we believe our ability to maintain analyst coverage, attractive investor interest, and have access to capital may become significantly
diminished as a result.

If the stockholders approve the Reverse Stock Split
Proposal and the Board determines to implement the Reverse Stock Split, we will file a certificate of amendment to amend the existing
provision of our Certificate of Incorporation to effect the Reverse Stock Split. The text of the form of proposed amendment is set forth
in the certificate of amendment to the Certificate of Incorporation, which is annexed to this Proxy Statement as .

The Reverse Stock Split will be effected simultaneously
for all issued and outstanding shares of Common Stock and the Reverse Stock Split Ratio will be the