Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 7

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 7
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On March 7, 2025, we announced targeted strategic actions to improve financial performance and accelerate the commercial growth of CyPath ®Lung, taking steps to deliver up to $3 to $4 million in annual cost savings at our subsidiary PPLS, while increasing resources to expand CyPath ®Lung sales in high-potential national markets. Specifically, cost savings are a result of labor cost reductions, operational efficiency enhancements, and discontinuing certain unprofitable pathology services to focus on high-margin services such as CyPath ®Lung.

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On February 26, 2025, we entered into a warrant inducement agreement with certain holders of existing warrants, such holders exercised for cash a total of 2,438,473 warrants originally issued in August 2024 and October 2024, at the reduced exercise price of $0.58 per share, for aggregate gross proceeds of approximately $1.4 million, before deducting advisory fees and other expenses payable by us. In consideration of the immediate exercise of the October Warrants and August Warrants, we issued unregistered common warrants to purchase an aggregate of up to 2,926,166 shares of Common Stock (120% of the number of shares of Common Stock issuable upon exercise of the warrants) at an exercise price of $0.85 per share, which warrants are not exercisable until our stockholders approve such exercise.

Corporate Information

We were incorporated in the State of Delaware on March 26, 2014. Our principal executive office is located at 3300 Nacogdoches Road, Suite 216, San Antonio, Texas 78217, and our telephone number at that address is (210) 698-5334. Our website address is https://www.bioaffinitytech.com/. Information contained on or that can be accessed through our website is not incorporated by reference into this prospectus. Investors should not consider any such information to be part of this prospectus.

Implications of Being an Emerging Growth Company and a Smaller Reporting Company

We qualify as an “emerging growth company” (an “ EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “ JOBS Act”). As an EGC, for up to five years, we may elect to take advantage of certain specified exemptions from reporting and other regulatory requirements that are otherwise generally applicable to public companies. For example, these exemptions would allow us to:

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