Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 82

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 82
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 collectively, the “Existing Warrants”). Pursuant to the Inducement Agreement, the Holders agreed to
exercise for cash (i) October Warrants to purchase an aggregate of up to 1,136,391 shares of Common Stock (the “October Warrant
Shares”), at the reduced exercise price of $0.58 per share and August Warrants to purchase an aggregate of up to 1,302,082 shares
of Common Stock (the “August Warrant Shares” and, together with the October Warrant Shares, the “Existing Warrant Shares”),
at the reduced exercise price of $0.58 per share. The transactions contemplated by the Inducement Agreement (the Warrant Inducement) were
consummated on February 26, 2025 (the “Closing Date”). We received aggregate gross proceeds of approximately $1.4 million,
before deducting advisory fees and other expenses payable by us.

In consideration of the Holders’ immediate exercise
of the Existing Warrants in accordance with the Inducement Agreement, we issued to the Holders of the Existing Warrants, the Inducement
Warrants, at an exercise price of $0.85 per share, to purchase an aggregate of up to 2,926,166 shares of Common Stock, which number of
Inducement Warrant Shares is equal to 120% of the number of Existing Warrant Shares issued upon exercise of the Existing Warrants.

The August Warrant Shares have been registered pursuant
to a registration statement on Form S-1 (File No. 333-282045), which was declared effective by the SEC on September 19, 2024, and the
October Warrant Shares have been registered pursuant to a registration statement on Form S-1 (File No. 333-283521), which was declared
effective by the SEC on December 6, 2024.

WallachBeth acted as the financial advisor on a “reasonable
best efforts” basis in connection with the Warrant Inducement pursuant to a letter of engagement, dated February 25, 2025, by and
between us and WallachBeth (the “Letter of Engagement”). Pursuant to the Letter of Engagement, WallachBeth received a cash
fee of 8.0% of the aggregate gross proceeds paid to us for the securities sold in the Warrant Inducement and reimbursement of certain
out-of-pocket expenses up to a maximum of $55,000. As additional compensation