Company: BIAF
Filing Date: 2025-04-22
Form Type: 424B3
Source: 0001641172-25-005598
Chunk: 98

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-22
Form: 424B3
Chunk 98
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 a going concern
for at least one year after the date the consolidated financial statements are issued.

Recent Financings

February 2025 Warrant Inducement

On February 26, 2025, pursuant to the terms of the
Inducement Agreement certain holders of existing warrants exercised for cash (i) October Warrants to purchase an aggregate of up to 1,136,391
shares of Common Stock, at the reduced exercise price of $0.58 per share, and (ii) August Warrants to purchase an aggregate of up to 1,302,082
shares of Common Stock, at the reduced exercise price of $0.58 per share. We received aggregate gross proceeds of approximately $1.4 million,
before deducting advisory fees and other expenses payable by us. In consideration of the immediate exercise of the October Warrants and
August Warrants by the holders thereof in accordance with the Inducement Agreement, we issued unregistered common warrants to purchase
an aggregate of up to 2,926,166 shares of Common Stock (120% of the number of shares of Common Stock issuable upon exercise of the October
Warrants and August Warrants) to such holders.

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October 2024 Registered Direct Offering and Concurrent Private Placement

On October 21, 2024, we issued to certain institutional
investors (i) in a registered direct offering, 2,048,294 shares of our Common Stock, and (ii) in a concurrent private placement, common
warrants to purchase an aggregate of 2,662,782 shares of Common Stock, with an exercise price of $1.50, pursuant to a securities purchase
agreement, dated October 18, 2024, that we entered into with such institutional investors, and received aggregate gross proceeds from
the offerings of approximately $2.7 million, before deducting placement agent fees and other offering expenses.

August 2024 Warrant Inducement, Registered Direct Offering and Concurrent Private Placement

On August 5, 2024, pursuant to the terms of the August
Inducement Agreement, certain holders of existing warrants, exercised for cash March Warrants to purchase an aggregate of up to 1,041,667
shares of Common Stock, at the reduced exercise price of $1.25 per share. We received aggregate gross proceeds of approximately $1.3 million,
before deducting advisory fees and other expenses payable by us. In consideration of the immediate exercise of