Company: BIAF
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0001641172-25-004857
Chunk: 45

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 45
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 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 the later of August 26, 2025 (the six month anniversary of the date of issuance)
and the Stockholder Approval Date there is no effective registration statement under the Securities Act for the resale of the New Warrant
Shares, any holder may, in its sole discretion, elect to exercise New Warrants through a cashless exercise, in which case such
holder would receive upon such exercise the net number of shares of Common Stock determined according to the formula set forth in the
New Warrant.

The exercise
price of the New Warrants, and the number of