Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 1075

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1075
---
 of $1.64.

On
August 5, 2024, the Company entered into warrant exercise agreements with three existing accredited investors to exercise certain outstanding
warrants to purchase an aggregate of 1,041,667 of the Company’s shares of Common Stock (the “Existing Warrants”). The
exercising holders received in a private placement new unregistered warrants (the “New Warrants”) to purchase up to an aggregate
of 1,302,082 shares of Common Stock with an exercise price of $1.50 per share, which are initially exercisable on the date that stockholder
approval of the exercise of the New Warrants is obtained and will expire five years from the date of such approval. In connection with
the exercise of the Existing Warrants, the Company agreed to reduce the exercise price of the Existing Warrants from $1.64 to $1.25 per
share. The exercise of the Existing Warrants and the issuance of the New Warrants occurred on August 5, 2024. The change in the exercise price of the Existing Warrants resulted in a fair value adjustment  of $27,757 which
was recorded to Additional paid-in capital for the exercised warrants. 

On
August 5, 2024, the Company also entered into a securities purchase agreement with an institutional
investor (the “Purchaser”), pursuant to which the Company issued to the Purchaser, (1) in a registered direct offering, 360,000
shares of Common Stock, and (2) in a concurrent private placement, warrants (the “Private Warrants”) to purchase an aggregate
of 450,000 shares of Common Stock (the “Private Warrant Shares”), with an exercise price of $1.50 (collectively, the “Offering”).
In addition, designees of the placement agent for the Offering were granted warrants to purchase an aggregate of up to 49,862 shares
of Common Stock, with an exercise price of $1.50.

On
October 21, 2024, the Company issued (1) in a registered direct offering, 2,048,294 shares (the “Shares”) of the Company’s Common Stock, par value $0.007 per share, and (2) in a concurrent private placement, common warrants
(the “Common Warrants”) to purchase an aggregate of 2,662,782 shares of Common Stock (the “Common Warrant
Shares”), with