Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 52

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 52
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 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 (3) months thereafter to seek Warrant Stockholder Approval until the earlier of the date Warrant Stockholder Approval is obtained or the May 2025 Warrants are no longer outstanding. “ Warrant Stockholder Approval” means approval from our stockholders of (i) the Anti-Dilution Adjustment (the approval sought by this Proposal No. 6) and (ii) an increase in the number of authorized shares of Common Stock to 350,000,000 shares of Common Stock under the Company’s Certificate of Incorporation (the approval sought by Proposal No. 5).

The May 2025 Warrants have an initial exercise price of $0.352 per share (110% of the combined public offering price per share of Common Stock and accompanying May 2025 Warrant). In addition to the Anti-Dilution Adjustment, which is subject to the approval of this Proposal No. 6, the number of May 2025 Warrant Shares issuable upon exercise of the May 2025 Warrants are subject to an additional adjustment, which is not subject to stockholder approval, in the event we effect a reverse stock split prior to the expiration of the May 2025 Warrants. If we effect a reverse stock split while the May 2025 Warrants are outstanding, the