Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 30

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 30
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On
February 25, 2025, the Company entered into a warrant inducement agreement (the “February Inducement Agreement”) with certain
holders (the “Holders”) of the Company’s warrants to purchase shares of the Company’s Common Stock, issued in
a private placement offering that closed on October 21, 2024 (the “October Warrants”), and a private placement offering that
closed on August 5, 2024 (the “August Warrants” and, together with the October Warrants, collectively, the “Existing
Warrants”). In consideration of the Holders’ immediate exercise of the Existing Warrants in accordance with the February
Inducement Agreement, the Company issued unregistered Common Stock purchase warrants (the “New Warrants”) to purchase an
aggregate of up to 97,538 shares of Common Stock (the “New Warrant Shares”) to the Holders of the Existing Warrants, with
an exercise price of $25.50.

On
May 7, 2025 the Company completed a public offering with warrants (“May 2025 Warrants”) to purchase of 507,812. The May 2025
Warrants have an initial exercise price of $10.56 per share. and are exercisable for a term of five years on a date that is five years
after the later of receiving the shareholder The number of shares of our Common Stock issuable
upon exercise of the May 2025 Warrant Shares is subject to the following adjustments: (i) a 30% increase in the number of shares of Common
Stock that would be issuable upon exercise of the May 2025 Warrants if a reverse stock split is effected prior to the expiration of the
May 2025 Warrants (the “Reverse Stock Split Adjustment”), and (ii) subject to Warrant Stockholder Approval (as defined below),
a decrease of the exercise price of the May 2025 Warrants, if in a subsequent offering of the Company’s 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 is less than the exercise price immediately prior to such subsequent offering, 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 (subject to a floor of $4.50 per share