Company: BIAF
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001641172-25-008629
Chunk: 25

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 25
---
 the business day prior to the public trading date of our Common Stock, our management is authorized to grant equity awards to our employees, officers, directors and consultants.

The aggregate number of shares of our Common Stock that might be issued pursuant to stock awards under our 2024 Equity Incentive Plan is 2,000,000 shares, of which 1,239,531 remain available for grant as of the date hereof. Increases in the number of shares available for future grant or purchase may result in additional dilution, which could cause our stock price to decline.

At April 11, 2025, we had outstanding (i) warrants to purchase an aggregate of 12,873,602 shares of Common Stock, with a weighted average exercise price equal to $2.74 per share, which includes Tradeable Warrants and Non-Tradeable Warrants that we issued in connection with our initial public offering to purchase an aggregate of 4,305,713 shares of Common Stock, all of which have an exercise price of $3.0625 per share; and (ii) options to purchase an aggregate of 304,125 shares of Common Stock, with a weighted average exercise price equal to $6.95 per share. The issuance of the shares of Common Stock underlying the options and warrants will have a dilutive effect on the percentage ownership held by holders of our Common Stock.

| 9 |

We have additional securities available for issuance, which, if issued, could adversely affect the rights of the holders of our Common Stock.

Our Certificate of Incorporation authorizes the issuance of 100,000,000 shares of Common Stock and 20,000,000 shares of preferred stock. The Common Stock and preferred stock, as well as the awards available for issuance under our 2024 Equity Incentive Plan, can be issued by our board of directors, without stockholder approval. Any future issuances of such stock would further dilute the percentage ownership in us held by holders of our Common Stock and may be issued at prices below the initial price offering. In addition, the issuance of preferred stock may be used as an “anti-takeover” device without further action on the part of our stockholders, and may adversely affect the holders of the Common Stock.

This is a best efforts offering, no minimum amount of securities is required to be sold, and we may not raise the amount of capital we believe is required for our business plans.

The Placement Agent has agreed to use its reasonable best efforts to solicit offers to