Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 64

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 7
Chunk 64
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 into a warrant inducement agreement with the holder of a warrant to purchase 15,000 shares of Common
Stock originally issued on August 5, 2024, with a current exercise price of $37.50 per share and a warrant to purchase 21,666 shares
of Common Stock originally issued on October 21, 2024, with a current exercise price of $45.00 per share, pursuant to which the Holder
agreed to exercise in cash the Existing Warrants at a reduced exercise price of $6.90 per share, for gross proceeds to the Company of
$253,000. As an inducement to such exercise, the Company agreed to issue to the holder unregistered warrants (the “New Warrants”)
to purchase up to 47,666 shares of the Company’s Common Stock. The New Warrants, which have an exercise price of $10.56 per share
and will not become exercisable until the Company’s stockholders approve the issuance of shares of Common Stock.

Nasdaq
Compliance

On
August 7, 2025, the Company received notice from Nasdaq that it had not regained compliance with Listing Rule 5550(a)(2) (the “Minimum
Bid Price Rule”) and was not eligible for a second 180-day compliance period as it did not comply with the minimum stockholders’
equity requirement for initial listing on the Nasdaq Capital Market. As a result, unless the Company requested an appeal by August 14,
2025, its securities would be scheduled for delisting from The Nasdaq Capital Market and would be suspended at the opening of business
on August 18, 2025. On August 14, 2025, the Company submitted an appeal to Nasdaq which stayed the delisting and suspension of the Company’s
securities pending the decision of the panel. On August
14, 2025, the Company received written notice from Nasdaq that its hearing has been scheduled for September 11, 2025. At the hearing,
the Company presented its views and its plans to regain compliance with the Minimum Bid Price Rule and Listing Rule 5550(b)(1)
(the “Minimum Stockholders’ Equity Rule”) to the panel. On September 18, 2025, Nasdaq granted us an extension
until October 2, 2025 to demonstrate compliance with the Minimum Bid Price Rule and the Minimum Stockholders’ Equity Rule. On
October 14, 2025