Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 101

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 101
---
 other things, these provisions:

    ●
    allow
    the authorized number of our directors to be changed only by resolution of our Board;

    ●
    establish
    advance notice requirements for stockholder proposals that can be acted on at stockholder meetings and nominations to our Board;

    ●
    require
    that stockholder actions must be effected at a duly called stockholder meeting and prohibit actions by our stockholders by written
    consent;

    ●
    prohibit
    our stockholders from calling a special meeting of our stockholders;

    ●
    provide
    that the Board is expressly authorized to adopt, amend, alter, or repeal our bylaws;

    ●
    establish
    advance notice requirements for nominations for election to our Board or for proposing matters that can be acted upon by stockholders
    at annual stockholder meetings; and

    .

    ●
    authorize
    our Board to issue Preferred Stock without stockholder approval, which could be used to institute a stockholder rights plan, or so-called
    “poison pill,” that would work to dilute the stock ownership of a potential hostile acquirer, effectively preventing
    acquisitions that have not been approved by our Board.

 49 

Any
provision in our Charter or A&R Bylaws that has the effect of delaying or deterring a change in control could limit the opportunity
for our stockholders to receive a premium for their shares of our Common Stock and could also affect the price that some investors are
willing to pay for our Common Stock.

Certain
provisions of the DGCL may have anti-takeover effects that could delay, defer, or discourage another party from acquiring control of
the Company, prevent changes in our Board or management, and make certain transactions more challenging that stockholders might otherwise
believe to be in their best interests.

We
are subject to the provisions of Section 203 of the DGCL, which generally prohibits us from engaging in a “business combination,”
meaning a merger, asset sale, or other transaction resulting in a stockholder’s financial benefit, with an “interested stockholder”
for a three-year period following the time that such stockholder becomes an interested stockholder, unless the business combination is
approved in a manner prescribed by Section 203. Section 203 defines an “interested stockholder” as a person who, together
with affiliates and associates, owns, or within three years did own, 15% or more of a corporation’s outstanding voting stock