Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 48

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 48
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 the Certificate of Incorporation with the Secretary of State of the State of Delaware.

As of the Record Date, in addition to the [ ] shares of Common Stock outstanding, the Board had reserved [ ] of the remaining authorized and unissued shares of the Company for issuances under the Company’s stock incentive plans and upon the exercise of outstanding warrants. Thus, as of the Record Date, the Company had only [ ] unissued and unreserved authorized shares of Common Stock.

Unless further stockholder approval is required for a proposed issuance of additional shares by the rules of Nasdaq or other applicable laws or regulations, the additional shares may be used for various purposes without further stockholder approval. These purposes may include raising capital, establishing strategic relationships with other companies, expanding the Company’s business or product lines through the acquisition of other businesses or products, the issuance of additional shares of stock pursuant to the anti-dilution provision of the May 2025 Warrants if Proposal No. 6 is approved by our stockholders, and other purposes.

The additional shares of Common Stock that would become available for issuance if the proposal is adopted could also be used by the Company to oppose a hostile takeover attempt or to delay or prevent changes in control or management of the Company. For example, without further stockholder approval, the Board could strategically sell shares of Common Stock in a private transaction to purchasers who would oppose a takeover or favor the current Board. Although this proposal to increase the authorized Common Stock has been prompted by business and financial considerations and not by the threat of any hostile takeover attempt (nor is the Board currently aware of any such attempts directed at the Company), stockholders should be aware that approval of the proposal could facilitate future efforts by the Company to deter or prevent changes in control of the Company, including transactions in which the stockholders might otherwise receive a premium for their shares over then current market prices.

If this proposal is not approved by our stockholders, our financing alternatives will likely be limited by the lack of sufficient unissued and unreserved authorized shares of Common Stock, and stockholder value may be harmed by this limitation. In addition, our future success depends upon our ability to attract, retain, and motivate highly skilled scientific, commercial, and managerial employees, and if this proposal is not approved by our stockholders, the lack of sufficient unissued and unreserved authorized shares of Common Stock to provide future equity incentive opportunities as the Board or the Compensation Committee thereof deems appropriate could adversely impact our ability to achieve these goals. In short, if our stockholders do not