Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 69

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 69
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, even if the weakness is quickly remedied, could diminish investors’ confidence in our financial statements and harm our stock price. In addition, non-compliance with Section 404 could subject us to a variety of administrative sanctions, including the suspension of trading, ineligibility for future listing on one of the Nasdaq Stock Markets or national securities exchanges, and the inability of registered broker-dealers to make a market in our Common Stock, which may reduce our stock price.

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<div align='center'>THE MARCH 2024 OFFERINGS</div>

On March 6, 2024, we entered into the March 2024 Purchase Agreement with the March 2024 Investors pursuant to which we issued to the March 2024 Investors, (i) in a registered direct offering (the “March 2024 RD”), 1,600,000 shares of Common Stock (the “March 2024 Shares”) and (ii) in the concurrent March 2024 Private Placement, the March 2024 Common Warrants to purchase an aggregate of 1,600,000 shares of Common Stock (the “March 2024 Common Warrant Shares”) with an exercise price of $1.64. The March 2024 RD and March 2024 Private Placement are referred to herein as the “March 2024 Offerings.”

We received aggregate gross proceeds from the March 2024 Offerings of approximately $2.5 million, before deducting placement agent fees and other estimated offering expenses payable by us. The March 2024 Shares were offered by us pursuant to a shelf registration statement on Form S-3 (File No. 333-275608), which was declared effective on November 27, 2023 (as amended from time to time, the “Shelf Registration Statement”). The March 2024 Common Warrants and the March 2024 Common Warrant Shares were issued in a concurrent private placement and had not been registered under the Securities Act and were instead offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and Rule 506(b) promulgated thereunder.

WallachBeth acted as the placement agent on a “reasonable best efforts” basis, in connection with the March 2024 Offerings pursuant to a placement agency agreement, dated March 6, 2024, by and between us and WallachBeth (the “March 2024 PAA”). Pursuant to the March 2024 PAA, WallachBeth