Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 53

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 53
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 number of May 2025 Warrant Shares issuable upon exercise of the May 2025 Warrants will increase by 30% (the “ Reverse Stock Split Adjustment”). The May 2025 Warrants are immediately exercisable, except that the issuance of shares of Common Stock upon exercise of the May 2025 Warrants pursuant to the Anti-Dilution Adjustment is subject to Warrant Stockholder Approval. The May 2025 Warrants expire on the five-year anniversary of the later of the date that the Company files a Current Report on Form 8-K giving public notice of the Warrant Stockholder Approval (the “ Stockholder Approval Notice Date”) and the effective date of the filing of a certificate of amendment to our Certificate of Incorporation to increase our authorized number of shares of Common Stock to 350,000,000 shares.

We agreed not to consummate a Dilutive Issuance until the earlier of (i) eight months from the closing date of the Public Offering; and (ii) later of (a) the filing of a registration statement registering certain shares of Common Stock issuable as a result of the Anti-Dilution Adjustment, (b) the Stockholder Approval Notice Date, and (c) the effective date of the filing of a certificate of amendment to our Certificate of Incorporation to increase our authorized number of shares of Common Stock to 350,000,000 shares.

Based on an initial exercise price of $0.352 per share (equal to 110% of the combined offering price per Share and accompanying May 2025 Warrant), if a reverse stock split is effected, an additional 4,570,312 shares of Common Stock (on a pre-reverse stock split basis which number shall be adjusted based on the reverse stock split ratio) will be issuable upon exercise of the May 2025 Warrants (the “ Reverse Stock Split Adjustment Shares”) and then, subject to the approval of this Proposal No. 6 (as well as approval of Proposal No. 5), if a Dilutive Issuance is consummated, an additional 49,907,811 shares of Common Stock (on a pre-reverse stock split basis which number shall be adjusted based on the reverse stock split ratio) would be issuable upon exercise of the May 2025 Warrants (the “ Anti-Dilution Adjustment Shares”).

The exercise price of the May 2025 Warrants and number of shares of Common Stock issuable upon exercise thereof will also adjust in the event of certain