Company: BIAF
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016338
Chunk: 22

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-09-30
Form: 424B4
Chunk 22
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 (on an as-if-converted-to-Common-Stock basis) to and in the same form as dividends actually paid on shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock.

Conversion

The Series B Preferred Stock will be convertible into shares of Common Stock at an initial conversion price of $6.90 per share (the “Conversion Price”). Each share of Series B Preferred Stock shall be convertible into such number of shares of Common Stock that results from dividing the Stated Value by the Conversion Price.

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Limitations on Conversion

Holders of Series B Preferred Stock are prohibited from converting shares of Series B Preferred Stock into shares of Common Stock if, as a result of such conversion, such holder, together with its affiliates, would beneficially own in excess of 4.99% of the total number of shares of Common Stock issued and outstanding immediately after giving effect to such conversion.

Compliance with Rules of Principal Market

The Company will be prohibited from issuing any shares of Common Stock upon conversion of the Series B Preferred Stock if after giving effect to such issuance, the aggregate number of Conversion Shares issued under this Agreement would exceed 19.99% of the aggregate number of shares of Common Stock issued and outstanding as of the execution date of the Purchase Agreement until such time as the Company obtains stockholder approval of such issuances (the “Preferred Stockholder Approval”).

Adjustment Upon Issuance of Common Stock

If and whenever on or after the date on which the Company obtains the Preferred Stockholder Approval, the Company is deemed to have issued or sold any shares of Common Stock for a consideration per share less than the Conversion Price, the Conversion Price will be reduced to such new issuance price subject to a floor price of $3.00.

Warrants

As of September 29, 2025, we have outstanding warrants to purchase an aggregate of 1,355,277 shares of Common Stock,
with a weighted average exercise price equal to $29.09 per share, which includes Tradeable Warrants and Non-Tradeable Warrants
that we issued in connection with our initial public offering to purchase an aggregate of 143,523 shares of Common Stock, all of which
have an exercise price of $91.875 per share.

Stock Options

As of September 29, 2025, we had outstanding options to purchase an aggregate of 9,054 shares of Common Stock, with a weighted average exercise price equal to $211.57 per share.

Exchange