Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 84

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 84
---
 time on or after the date
on which the Company receives stockholder approval of the exercisability of the Inducement Warrants and the issuance of the Inducement
Warrant Shares upon exercise thereof (the “Stockholder Approval Date”) and have a term of exercise of five (5) years from
the Stockholder Approval Date.

| 36 |

If at any time after the later of (i) the six-month anniversary of the Closing Date, and (ii) the Stockholder Approval Date, a registration statement registering the issuance of the Inducement Warrant Shares under the Securities Act is not effective or available, the holder may, in its sole discretion, elect to exercise the Inducement Warrants through a cashless exercise, in which case the holder would receive upon such exercise the net number of shares of Common Stock determined according to the formula set forth in the Inducement Warrants.

The exercise price of the Inducement Warrants, and the number of Inducement Warrant Shares, are subject to adjustment in the event of any stock dividend or split, reverse stock split, recapitalization, reorganization or similar transaction, as described in the Inducement Warrants. The Company may also at any time during the term of the Inducement Warrants, subject to the prior written consent of the holder, voluntarily reduce the then current exercise price to any amount and for any period of time, subject to the rules and regulations of Nasdaq.

A holder will not have the right to exercise any portion of the Inducement Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% (or, upon election of the holder, 9.99%) of the number of shares of Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of such warrants.
However, any holder may increase or decrease such percentage, provided that any increase will not be effective until the 61st day after
such election.

In the event of a Fundamental Transaction (as such
term is defined in the Inducement Warrants), then the successor entity will succeed to, and be substituted for the Company, and may exercise
every right and power that the Company may exercise and will assume all of its obligations under the Inducement Warrants with the same
effect as if such successor entity had been named in the warrant itself. If holders of Common Stock are given a choice as to the securities,