Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 74

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 74
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Beth served as our exclusive financial advisor in connection with exercise of the March 2024 Common Warrants and other transactions described in the August Inducement Agreement. Pursuant to the terms of an engagement letter, we paid to WallachBeth a cash fee equal to 8.0% of the aggregate gross proceeds received from the Warrant Inducement Holders upon exercise of the March 2024 Common Warrants, and issued to designees of WallachBeth the Inducement Advisor Warrants to purchase up to 39,062 shares of Common Stock which is equal to 3.0% of the aggregate number of Inducement Warrant Shares. The Inducement Advisor Warrants have substantially the same terms as the Inducement Warrants, including that the Inducement Advisor Warrants have an exercise price equal to $1.50 per share, except that they were immediately exercisable and expire on the five-year anniversary of the date of issuance.

Registered Direct Offering and August 2024 Private Placement

On August 2, 2024, we entered into the August 2024 Purchase Agreement with the April 2024 Investor pursuant to which we issued to the April 2024 Investor, (i) in a registered direct offering (the “August 2024 RD”), 360,000 shares of Common Stock (the “April 2024 Shares”), and (ii) in the August 2024 Private Placement, the August 2024 Common Warrants to purchase an aggregate of 450,000 shares of Common Stock (the “August 2024 Common Warrant Shares”) with an exercise price of $1.50. The August 2024 RD and August 2024 Private Placement are collectively referred to herein as the “August 2024 Offerings.”

We received aggregate gross proceeds from the August 2024 Offerings of approximately $450,000, before deducting fees payable to WallachBeth as placement agent and other estimated offering expenses payable by us. The August 2024 Shares were offered by us pursuant to the Shelf Registration Statement. The August 2024 Common Warrants and the August 2024 Common Warrant Shares were issued in a concurrent private placement and had not been registered under the Securities Act and were instead offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and Rule 506(b) promulgated thereunder.

WallachBeth acted as the placement agent on a “reasonable best efforts” basis in connection with the August 202