Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 51

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 51
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='center'>PROPOSAL NO. 6

APPROVAL OF THE ANTI-DILUTION ADJUSTMENT</div>

We are seeking stockholder approval of an Anti-Dilution Adjustment (as defined below) contained in the Common Stock purchase warrants (the “ May 2025 Warrants”) issued in connection with our best efforts public offering that closed on May 7, 2025, pursuant to which, upon our consummation of a Dilutive Issuance (defined below) and subject to approval of Proposal No. 5, the exercise price of the May 2025 Warrants would be reduced to a minimum price of $0.10 per share and, upon a reduction in the exercise price, the number of shares of Common Stock issuable upon exercise of the May 2025 Warrants would correspondingly be increased up to an aggregate maximum of 49,907,811 shares of our Common Stock (on a pre-reverse stock split basis which number shall be adjusted based on the reverse stock split ratio). A “ Dilutive Issuance” will occur if, in a subsequent offering of our securities, the price paid for Common Stock, the exercise price of any options or warrants or the conversion price of any convertible securities issued in such subsequent offering (as determined pursuant to the terms of the May 2025 Warrants) is less than the exercise price immediately prior to such subsequent offering. In the event of such approval, upon a Dilutive Issuance, the exercise price of the May 2025 Warrants would be reduced, subject to approval of this Proposal No. 6 and Proposal No. 5, to an exercise price that is equal to the lowest of the price paid for Common Stock, the exercise price of any options or warrants or the conversion price of any convertible securities issued in such subsequent offering which constitutes a Dilutive Issuance (subject to a floor of $0.10 per share) and the number of shares of our Common Stock underlying the May 2025 Warrants upon such exercise price reset would be increased so that the reset exercise price multiplied by the increased number of shares equals the aggregate proceeds that would have resulted from the full exercise of the May 2025 Warrants immediately prior to the reset (the “ Anti-Dilution Adjustment”),

On May 7, 2025, we consummated a best efforts public offering (the “ Public Offering”) of an aggregate of (i) 7,784,904 shares (the “ Shares”) of