Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 50

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 50
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 so as to dilute the stock ownership or voting rights of persons seeking to obtain control without our agreement. Similarly, the issuance of additional shares to certain persons allied with our management could have the effect of making it more difficult to remove our current management by diluting the stock ownership or voting rights of persons seeking to cause such removal. The increase in the number of shares of authorized Common Stock therefore may have the effect of discouraging unsolicited takeover attempts. By potentially discouraging initiation of any such unsolicited takeover attempts, the increase may limit the opportunity for our stockholders to dispose of their shares at the higher price generally available in takeover attempts or that may be available under a merger proposal.

Interests of Directors and Executive Officers

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposal except to the extent of their ownership of shares of our Common Stock. However, as a condition to the closing of the best efforts public offering on May 7, 2025, our officers and directors executed support agreements, agreeing to vote in support of this Proposal No. 5, as well as the Anti-Dilution Adjustment Proposal (Proposal No. 6) and the Adjournment Proposal (Proposal No. 7).

Vote Required

The affirmative vote of a majority of the votes cast by the holders of all shares of stock present or represented and voting on the Authorized Increase Proposal at the Annual Meeting is required to approve the Authorized Increase Proposal. This means that to be approved, the votes cast in favor of the Authorized Increase Proposal must exceed the votes cast against the Authorized Increase Proposal. Since abstentions are not considered votes cast, they will have no effect on this proposal. Broker non-votes are not expected for this proposal because we believe this matter is a routine matter. If there were to be any broker non-votes they would have no effect on the vote with respect to this proposal.

Approval by our stockholders of this Authorized Increase Proposal is not conditioned upon approval by our stockholders of the Reverse Stock Split Proposal (Proposal No. 3) or the Anti-Dilution Adjustment Proposal (Proposal No. 6). However, the Approval of this Authorized Increase Proposal is a condition to any Anti-Dilution Adjustment (as defined below in Proposal No. 6 below) being effected.

<div align='center'>THE BOARD UNANIMOUSLY RECOMMENDS A VOTE “FOR” APPROVAL OF THE

AUTHORIZED INCREASE PROPOSAL.</div>

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