Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 43

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 43
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 Placement”) that closed on February 26, 2025, as contemplated by
Nasdaq Listing Rules.

On February 25, 2025, we entered into
a warrant inducement agreement (the “Inducement Agreement”) with certain holders (the “Holders”)
of outstanding warrants to purchase shares of Common Stock issued in a private placement offering that closed on October 21, 2024 (the
“October Warrants”), and a private placement offering that closed on August 5, 2024 (the “August Warrants” and, together with the October Warrants, collectively, the “Existing Warrants”). Pursuant
to the Inducement Agreement, the Holders of the Existing Warrants agreed to exercise for cash (i) October Warrants to purchase an aggregate
of up to 1,136,391 shares of Common Stock (the “October Warrant Shares”) at the reduced exercise price of $0.58
per share and August Warrants to purchase an aggregate of up to 1,302,082 shares of Common Stock (the “August Warrant Shares”
and, together with the October Warrant Shares, the “Existing Warrant Shares”), at the reduced
exercise price of $0.58 per share. The transactions contemplated by the Inducement Agreement (the “Warrant Inducement”)
were consummated on February 26, 2025 (the “Closing Date”).

In consideration of the Holders’
immediate exercise of the Existing Warrants in accordance with the Inducement Agreement, we issued unregistered Common Stock Purchase
Warrants (the “New Warrants”) to purchase an aggregate of up to 2,926,166 shares of Common Stock (120% of the
number of Existing Warrant Shares issued upon exercise of the Existing Warrants) (the “New Warrant Shares”),
at an exercise price of $0.85, to the Holders of the Existing Warrants. We also issued to the financial advisor warrants to purchase
up to 87,785 shares of our Common Stock with an exercise price of $0.85 (the “Advisor Warrants”).

The New Warrants
will be exercisable commencing on the effective date of stockholder approval for the issuance of the shares of Common Stock issuable
upon exercise of the New Warrants (the “Stockholder Approval Date”) and will expire on the fifth anniversary
of the Stockholder Approval Date. If at any time after