Company: BIAF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001641172-25-012410
Chunk: 91

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-27
Form: 424B5
Chunk 91
---
 of our initial public offering, all outstanding shares of our Series A Preferred Stock were automatically converted into shares of our common stock. We do not intend to issue any further shares of Series A Preferred Stock. Set forth below is a summary of the terms of the Series A Preferred Stock:

Voting Rights

Holders of the shares of Series A Preferred Stock have the right to one vote for each share of common stock into which such Series A Preferred Stock could then be converted. In addition, for so long as 30% of the shares of Series A Preferred Stock remained outstanding, the Series A Preferred Stock holders, voting together as a single class, may exercise the Series A Director Designation Right, pursuant to which they were entitled to elect one director of the Company as the Series A Representative. The Series A Director Designation Right ceased to exist because no shares of Series A Preferred Stock remain outstanding.

.

Dividend Rights

Holders of shares of the Series A Preferred Stock are entitled to receive dividends, in preference to any declaration or payment of a dividend to holders of the common stock, of 8% per share per annum when, as and if declared by the Board. Such dividends are not cumulative.

Rights Upon Liquidation

In the event of any liquidation, dissolution or similar event, the holders of shares of Series A Preferred Stock are entitled to receive in preference to any distribution of any of our assets to the holders of our common stock, $7.70 per share (as adjusted for a prior reverse-stock-split). Unless otherwise decided by holders of a majority of the Series A Preferred Stock outstanding, a liquidation includes a sale of substantially all of the assets of the Company and a merger, unless such merger is solely for the purpose of changing the Company’s state of incorporation or a majority of the voting power of the surviving entity will be owned by persons who were stockholders of the Company prior to the merger. Holders of shares of Series A Preferred Stock will not participate with the holders of Common Stock in the distribution of the remainder of the Company’s assets.

Conversion Rights

The conversion rate of Series A Preferred Stock into common stock was initially 1 for 7 (as adjusted for a prior reverse-stock-split). Shares of Series A Preferred Stock are convertible, at the option of the holder thereof, into shares of our common stock at any time. Shares of Series A Preferred Stock automatically convert into shares of our common stock following the closing of an underwritten initial public offering of our Common Stock in which at least $10,000,000 in