Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 31

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 31
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 100 shares of Common Stock (an “odd lot” transaction)
may result in incrementally higher trading costs through certain brokers, particularly “full-service” brokers. Therefore,
those stockholders who own less than 100 shares of Common Stock following the Reverse Stock Split may be required to pay higher transaction
costs if they sell their Common Stock.

The Reverse Stock Split May Lead to a Decrease in the Overall Market Capitalization of the Company.The Reverse Stock Split may be viewed negatively by the market and, consequently,
could lead to a decrease in our overall market capitalization. If the per share market price of the Common Stock does not increase in
proportion to the Reverse Stock Split Ratio, then our value, as measured by our market capitalization, will be reduced.

The Reverse Stock Split May Lead to Further Dilution of the Common Stock.Since the Reverse Stock Split Proposal would reduce the number of shares of Common Stock outstanding and the
number of shares of Common Stock issuable on exercise of outstanding warrants, while leaving the number of shares authorized and issuable
under our Certificate of Incorporation unchanged, the Reverse Stock Split would effectively increase the number of shares of the Common
Stock that we would be able to issue and could lead to dilution of the Common Stock in future financings.

Impact of a Reverse Stock Split If Implemented

A Reverse Stock Split would affect all
holders of Common Stock uniformly and would not affect any stockholder’s percentage ownership interests or proportionate voting
power. The other principal effects of the Reverse Stock Split would be that:

| ● | the number of issued and outstanding shares of Common Stock (and treasury shares), if any, will be reduced proportionately based on the final Reverse Stock Split Ratio, as determined by the Board;                                                   |
| ● | based                                                                                                                                                                                                                                                  
 on the final Reverse Stock Split Ratio, the per share exercise price of all outstanding warrants will be increased proportionately,                                                                                                                    
 and the number of shares of Common Stock issuable upon the exercise of all outstanding warrants will be reduced proportionately;                                                                                                                       
 and                                                                                                                                                                                                                                                    |
| ● | the number of shares reserved for issuance pursuant to any outstanding equity awards and any maximum number of shares with respect to which equity awards may be granted will be reduced proportionately based on the final Reverse Stock Split Ratio. |

The following table sets forth the approximate
number of shares of the Common Stock that would be outstanding immediately after the Reverse Stock Split based on the current authorized
number of shares of Common Stock at various exchange ratios, based on [