Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 33

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 33
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 Common Stock authorized but unissued (Authorized Common Stock assuming that the Authorized                                                                                                                             
 Increase Proposal is approved and the authorized increase is effected minus issued and outstanding shares, shares issuable upon outstanding                                                                                      
 options, warrants and shares reserved for issuance under existing incentive plans)                                                                                                                                               |     |                | 291,636,729 |     |                  | 344,163,673 |     |                  | 347,665,470 |

We are currently authorized to issue
a maximum of 100,000,000 shares of our Common Stock. If Proposal No. 5 is approved and the authorized increase is effected, the
authorized number of shares of Common Stock will be increased to 350,000,000. As of the Record Date, there were 28,459,541 shares
of our Common Stock issued and outstanding. Although the number of authorized shares of our Common Stock will not change as a result
of the Reverse Stock Split, the number of shares of our Common Stock issued and outstanding will be reduced in proportion to the ratio
selected by the Board. Thus, the Reverse Stock Split will effectively increase the number of authorized and unissued shares of our Common
Stock available for future issuance by the amount of the reduction effected by the Reverse Stock Split.

| 19 |

Following the Reverse Stock Split, the
Board will have the authority, subject to applicable securities laws, to issue all authorized and unissued shares without further stockholder
approval, upon such terms and conditions as the Board deems appropriate. Although we consider financing opportunities from time to time,
we do not currently have any plans, proposals, or understandings to issue the additional shares that would be available if the
Reverse Stock Split is approved and effected, but some of the additional shares underlie warrants which could be exercised after the
Reverse Stock Split is effected.

Effects of the Reverse Stock Split

Management does not anticipate that our
financial condition, the percentage ownership of Common Stock by management, the number of our stockholders, or any aspect of
our business will materially change as a result of the Reverse Stock Split. Because the Reverse Stock Split will apply to all issued
and outstanding shares of Common Stock and outstanding rights to purchase Common Stock, the proposed Reverse Stock Split will
not alter the relative rights and preferences of existing stockholders, except to the extent the Reverse Stock Split will result in fractional
shares, as discussed in more detail below.

The Common Stock is currently registered
under Section 12(b) of the Exchange Act, and we are