Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 51

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 51
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 of any convertible securities issued in such subsequent offering (as determined pursuant to the terms of the May 2025 Warrants) is less than the exercise price immediately prior to such subsequent offering. In the event of such approval, upon a Dilutive Issuance, the exercise price of the May 2025 Warrants would be reduced, subject to approval of this Proposal No. 6 and Proposal No. 5, to an exercise price that is equal to the lowest of the price paid for Common Stock, the exercise price of any options or warrants or the conversion price of any convertible securities issued in such subsequent offering which constitutes a Dilutive Issuance (subject to a floor of $0.10 per share) and the number of shares of our Common Stock underlying the May 2025 Warrants upon such exercise price reset would be increased so that the reset exercise price multiplied by the increased number of shares equals the aggregate proceeds that would have resulted from the full exercise of the May 2025 Warrants immediately prior to the reset (the “ Anti-Dilution Adjustment”),

On May 7, 2025, we consummated a best efforts public offering (the “ Public Offering”) of an aggregate of (i) 7,784,904 shares (the “ Shares”) of Common Stock, (ii) pre-funded warrants (“ Pre-Funded Warrants”) to purchase up to 2,371,346 shares of Common Stock (the “ Pre-Funded Warrant Shares”) in lieu of Shares, and (iii) May 2025 Warrants to purchase up to 15,234,375 shares of Common Stock (the “ May 2025 Warrant Shares”) (equal to 150% of the aggregate number of Shares and Pre-Funded Warrants sold in the Public Offering). Each Share and accompanying May 2025 Warrant was sold at a combined public offering price of $0.32. Each Pre-Funded Warrant and accompanying May 2025 Warrant was sold at a combined public offering price of $0.313.

In connection with the Public Offering on May 5, 2025, we entered into a securities purchase agreement (the “ Purchase Agreement”) with certain investors, pursuant to which we agreed to hold a meeting of our stockholders within 90 days after the closing of the Public Offering for purposes of seeking Warrant Stockholder Approval (defined below). If we do not obtain Warrant Stockholder Approval at the first meeting, we are required to call a meeting every three (