Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 29

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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 have an initial exercise price of $0.352 per share. and are exercisable for a term of five years on a date that is
five years after the later of receiving the shareholder The number of shares of our Common Stock
issuable upon exercise of the May 2025 Warrant Shares is subject to the following adjustments: (i) a 30% increase in the number of shares
of Common Stock that would be issuable upon exercise of the May 2025 Warrants if a reverse stock split is effected prior to the expiration
of the May 2025 Warrants (the “Reverse Stock Split Adjustment”), and (ii) subject to Warrant Stockholder Approval (as defined
below), a decrease of the exercise price of the May 2025 Warrants, if in a subsequent offering of the Company’s securities 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 is less than the exercise price immediately prior to such subsequent offering, 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 (subject to a floor of $0.10 per share) and an increase in the number of shares
of Common Stock underlying the May 2025 Warrants upon such exercise price reset 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”). The May 2025 Warrants will be immediately exercisable, except that the issuance
of shares of Common Stock upon exercise of the May 2025 Warrants pursuant to the Anti-Dilution Adjustment will be subject to the filing
of an amendment to the Company’s certificate of incorporation, as amended (the “Certificate of Incorporation”), with
the Secretary of State of the State of Delaware to increase the Company’s authorized number of shares of Common Stock to 350,000,000
shares (the “Certificate of Amendment”) and the date of stockholder approval of the Anti-Dilution Adjustment (collectively,
the “Warrant Stockholder Approval”). The May 2025 Warrants will expire on the five-year anniversary of the later of the date
that the Company files a Current Report on Form 8-K giving public notice of