Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 28

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 28
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 value.

Weare required to obtain Warrant Stockholder Approval prior to the exercise of the April 2025 Warrants and until, and unless, we obtain the Warrant Stockholder Approval from our stockholders, the April 2025 Warrants will not be exercisable. While we intend to promptly seek stockholder approval of both the amendment to our certificate of incorporation to increase our number of authorized shares of Common Stock and the exercise of the April 2025 Warrants and the issuance of the shares of Common Stock upon such exercise, there is no guarantee that the Warrant Stockholder Approval will ever be obtained. If we are unable to obtain the Warrant Stockholder Approval, the April 2025 Warrants will have no value. In addition, we will incur substantial cost, and management will devote substantial time and attention, in attempting to obtain the Warrant Stockholder Approval.

If we do not maintain a current and effective prospectus relating to the Common Stock issuable upon exercise of the April 2025 Warrants, public holders will only be able to exercise such April 2025 Warrants on a “ cashless basis.”

If we do not maintain a current and effective prospectus relating to the shares of Common Stock issuable upon exercise of the April 2025 Warrants at the time that holders wish to exercise such warrants, they will only be able to exercise them on a “cashless basis,” and under no circumstances would we be required to make any cash payments or settle such warrants to the holders. The Pre-Funded Warrants are exercisable on a “cashless basis” at all times. As a result, if exercised on a “cashless basis” the number of shares of Common Stock that holders will receive upon exercise of the April 2025 Warrants and Pre-Funded Warrants will be fewer than it would have been had such holders exercised their April 2025 Warrants or Pre-Funded Warrants for cash. We will do our best efforts to maintain a current and effective prospectus relating to the shares of Common Stock issuable upon exercise of such warrants until the expiration of such warrants. However, we cannot assure you that we will be able to do so. If we are unable to do so, the potential “upside” of the holder’s investment in our company may be reduced.

We may be required to repurchase the April 2025 Warrants, which may prevent or deter a third party from acquiring us.

The April 2025 Warrants provide that in the event of a “