Company: BIAF
Filing Date: 2025-02-27
Form Type: 8-K
Source: 0001493152-25-008471
Chunk: 1

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-02-27
Form: 8-K
Item: Item 1.01
Chunk 1
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been registered pursuant to a registration statement on Form S-1 (File No. 333-283521), which was declared effective by the SEC on December
6, 2024.

The
Company agreed in the Inducement Agreement to file a registration statement to register the resale of the New Warrant Shares (the “ Resale
Registration Statement”) as soon as practicable (and in any event within 45 calendar days following the date of the Inducement
Agreement), and to use commercially reasonable efforts to have the Resale Registration Statement declared effective by the SEC and to
keep such registration statement effective at all times until the Holders no longer own any New Warrants or New Warrant Shares.

The
Company expects to use the net proceeds from these transactions for working capital and other general corporate purposes.

WallachBeth
Capital, LLC acted as the financial advisor (the “ Financial Advisor”) on a “reasonable best efforts” basis, in
connection with the Warrant Inducement to a letter of engagement, dated February 25, 2025, by and between the Company and the
Financial Advisor (“ Letter of Engagement”). Pursuant to the Letter of Engagement, the Financial Advisor received
a cash fee of 8.0% of the aggregate gross proceeds paid to the Company for the securities sold in the Warrant Inducement and reimbursement
of certain out-of-pocket expenses up to a maximum of $55,000. As additional compensation to the Financial Advisor in connection with
the Warrant Inducement, the Company agreed to issue to the designees of the Financial Advisor, warrants (“ Advisor Warrants”)
to purchase an aggregate of 87,785 shares of Common Stock (the “ Advisor Warrant Shares”), which is equal to approximately
3.0% of the number of New Warrant Shares issued in the offering, at an exercise price per share equal to $0.85, which is equal to the
exercise price of the New Warrants. The Advisor Warrants have substantially the same terms as the New Warrants, except that they are
immediately exercisable and expire on the five-year anniversary of the date of issuance. In addition, pursuant to the terms of the Letter
of Engagement: (a) the Financial Advisor has the right of first refusal for a period of six (6) months after the Closing Date to
participate in each and every future public and private equity and debt offerings of the Company, or any successor to or any subsidiary
of the