Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 174

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 174
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 if in a subsequent offering of our 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 our Common Stock underlying the April 2025 Warrants 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 April 2025 Warrants immediately prior to the reset. If a reverse stock split is effected and the exercise price of the April 2025 Warrants is reset to the floor price of $0.10 per share, then based on an assumed initial exercise price of $0.5489 per share (equal to 110% of the assumed combined offering price per Share and accompanying April 2025 Warrant), the number of shares of Common Stock underlying each April 2025 Warrant would be increased to 7.1 shares and a total of 75,074,993 shares of Common Stock would be issuable upon exercise of all of the April 2025 Warrants.

Exercisability

The April 2025 Warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares of our Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder (together with its affiliates) may not exercise any portion of the warrant to the extent that the holder would own more than 4.99% (or, at the election of the purchaser prior to the issuance of the April 2025 Warrants, 9.99%) of the outstanding Common Stock immediately after exercise. Following the issuance of the April 2025 Warrants, upon notice from the holder to us, the holder may increase or decrease the amount of beneficial ownership of outstanding stock after exercising the holder’s warrants up to 9.99% of the number of shares of our Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the April 2025 Warrants and in