Company: BIAF
Filing Date: 2025-04-15
Form Type: PRE 14A
Source: 0001641172-25-004857
Chunk: 26

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-15
Form: PRE 14A
Chunk 26
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 a
resolution setting forth a proposed amendment to our Certificate of Incorporation to effect a reverse stock split of the issued and outstanding
shares of Common Stock, a copy of which is set forth in the certificate of amendment annexed to this Proxy Statement as ,
declared such amendment advisable, and is recommending that our stockholders approve, such proposed amendment. Such amendment will be
effected after stockholder approval thereof only in the event the Board still deems it advisable. Holders of our Common Stock are being
asked to approve the proposal that Section 4 of our Certificate of Incorporation be amended to effect a reverse stock split of the Common
Stock at a ratio in the range of one (1) share of Common Stock for every two (2) shares of Common Stock to one (1) share of Common Stock
for every twenty five (25) shares of Common Stock. If the Reverse Stock Split is approved by our stockholders and if a certificate
of amendment is filed with the Secretary of State of the State of Delaware, the certificate of amendment to our Certificate of Incorporation
will effect the Reverse Stock Split by reducing the outstanding number of shares of Common Stock. If the Board of Directors does not
implement an approved Reverse Stock Split prior to the one-year anniversary of this meeting, this vote will be of no further force and
effect and the Board will again seek stockholder approval before implementing any reverse stock split after that time. The Board of Directors
may abandon the proposed amendment to effect the Reverse Stock Split at any time prior to its effectiveness, whether before or after
stockholder approval thereof.

As of the Record Date, the Company had 18,255,824
shares of Common Stock outstanding. For purposes of illustration, if the Reverse Stock Split is effected at a ratio of 1-for-10, the number
of issued and outstanding shares of Common Stock after the Reverse Stock Split would be approximately 1,825,582 shares. The Board of Directors’
decision as to whether and when to effect the Reverse Stock Split will be based on a number of factors, including market conditions, existing
and expected trading prices for the Common Stock, and the continued listing requirements of the Nasdaq Capital Market. See below for a
discussion of the factors that the Board considered in determining the Range, some of which included, but was not limited to, the following:
the historical trading price and trading volume of the Common Stock; the expected impact of the Reverse Stock Split on the trading market
for the Common Stock