Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 195

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 195
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 in equal monthly installments over terms
of immediately and up to three years, subject to the employees and non-employees providing continuous service through the vesting date. During the three
months ended March 31, 2025, 92,601
shares vested from RSAs granted prior to January 1, 2025, and 66,658
shares vested from RSAs granted during the three months ended March 31, 2025.

Note 14. WARRANTS

The Company’s outstanding Common
Stock warrants are equity classified. As of March 31, 2025, and December 31, 2024, the Company had 12,873,602
and 12,298,124
warrants outstanding to purchase one share of the Company’s Common Stock for each warrant at a weighted average exercise price
of $2.74
and expire at various dates through February 2030. During the three months ended March 31, 2025, a total number of 2,438,473
warrants were exercised into an equivalent number of shares of Common Stock as compared to no warrants being exercised during the three
months ended March 31, 2024. The proceeds of the exercised warrants for the three months ended March 31, 2025, was $1,414,314,
compared to no
proceeds during the three months ended March 31, 2024.

On February 25, 2025, the Company
entered into a warrant inducement agreement (the “February Inducement Agreement”) with certain holders (the “Holders”)
of the Company’s warrants to purchase shares of the Company’s 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 February
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