Company: BIAF
Filing Date: 2025-08-14
Form Type: 8-K
Source: 0001641172-25-024172
Chunk: 2

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 8-K
Item: Item 1.01
Chunk 2
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 Warrants”), pursuant to which the Holder agreed to exercise in cash the Existing Warrants
at a reduced exercise price of $0.23 per share, for gross proceeds to the Company of $253,000. As an inducement to such exercise, the
Company agreed to issue to the Holder unregistered warrants (the “ New Warrants”) to purchase up to 1,430,000 shares of the
Company’s Common Stock. The New Warrants, which have an exercise price of $0.352 per share and will not become exercisable until
the Company’s stockholders approve the issuance of shares of Common Stock upon exercise of the New Warrants in excess of 19.99%
of the Common Stock outstanding on the closing date (the “ Stockholder Approval”). Following Stockholder Approval, the New
Warrants have a term of five years.

The
shares of common stock issuable upon exercise of the August 2024 Warrant are registered pursuant to the Company’s Registration
Statement on Form S-1 (File No. 333-282045), which was filed with the SEC on September 11, 2024 and declared effective by the SEC on
September 19, 2024. The shares of common stock issuable upon exercise of the October 2024 Warrant are registered pursuant to the Company’s
Registration Statement on Form S-1 (File No. 333-283521), which was filed with the SEC on November 27, 2024 and declared effective by
the SEC on December 6, 2024.

In
connection with the transactions contemplated in the Warrant Inducement Agreement (the “ Inducement Transaction”), the Company
entered into a financial advisory agreement (the “ Financial Advisory Agreement”) with WallachBeth. Pursuant to the terms
of the Financial Advisory Agreement, WallachBeth will receive a cash fee equal to 7.5% of the total proceeds from the exercise of the
Existing Warrants. In addition, the Company agreed to issue to WallachBeth warrants to purchase 3% of the number of shares of Common
Stock issuable upon exercise of the New Warrants. The Company also agreed to reimburse WallachBeth for its actual and out-of-pocket expenses
up to a maximum amount of $15,000.

The
terms of the Warrant Inducement Agreement require the Company to file a registration statement registering the shares underlying the
New Warrants (the “ New Warrant Shares”) for resale (“ Res