Company: BIAF
Filing Date: 2025-08-14
Form Type: 8-K
Source: 0001641172-25-024172
Chunk: 3

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 8-K
Item: Item 1.01
Chunk 3
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ale Registration Statement”) within 15 calendar days
and to use commercially reasonable best efforts to keep the Resale Registration Statement effective at all times until the Holder no
longer holds any New Warrants or New Warrant Shares.

The
Inducement Transaction closed on August 14, 2025. The Company intends to use these net proceeds received from the Inducement Transaction
for general working capital and general corporate purposes.

The
foregoing descriptions of terms and conditions of the Warrant Inducement Agreement, the New Warrants and the Financial Advisory Agreement
do not purport to be complete and are qualified in their entirety by the full text of the form of the Warrant Inducement Agreement, form
of New Warrant, and the form of Financial Advisory Agreement, which are attached hereto as Exhibits 10.3, 4.3, and 10.4, respectively.

Warrant
Amendment

On
August 13, 2025, the Company and the holders of certain warrants issued by the Company on May 7, 2025 (the “ May 2025 Warrants”)
entered into amendments to the May 2025 Warrants (each, a “ Warrant Amendment”) pursuant to which certain provisions of the
May 2025 Warrants that resulted in liability treatment on the Company’s balance sheet as of June 30, 2025 were amended and restated.
Following the Warrant Amendment, the May 2025 Warrants are expected to be reclassified, which will result in an increase in stockholders’
equity of approximately $2.8 million.

In addition, in connection with the Private Placement
described above, as a result of certain anti-dilution adjustment provisions of the May 2025 Warrants (the “ Anti-Dilution Adjustment”)
the exercise price of the May 2025 Warrants has been adjusted to $0.23 per share and the number of shares of Common Stock issuable upon
exercise of the May 2025 Warrants has been increased by approximately 8 million. The Anti-Dilution Adjustment was approved by the Company’s
stockholders at its annual meeting of stockholders as reported in the Company’s Current Report on Form 8-K filed with the SEC on
July 25, 2025.

The
foregoing description of the Warrant Amendment is not complete and is qualified in its entirety by the full text of the form of Warrant
Amendment, a copy of