Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016927
Chunk: 196

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 196
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” and, together with the October Warrant Shares, the “Existing Warrant
Shares”), at the reduced exercise price of $0.58
per share. The transactions contemplated by the Inducement Agreement (the “Warrant Inducement”) were consummated on February
26, 2025.

In consideration of the Holders’
immediate exercise of the Existing Warrants in accordance with the February Inducement Agreement, the Company issued unregistered Common
Stock Purchase Warrants (the “New Warrants”) to purchase an aggregate of up to 2,926,166
shares of Common Stock (the “New Warrant Shares”) to the Holders of the Existing Warrants, with an exercise price of $0.85.

In addition, designees of the placement
agent for the Offering were granted warrants to purchase an aggregate of up to 87,785
shares of Common Stock, with an exercise price of $0.85.

The
following table summarizes the calculated aggregate fair values for the warrant derivative liability using the Black-Scholes method based
on the following assumptions for the Offering:

SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY

| Exercise price per share of warrant                 |     | $ | 0.85 |   |
| Fair market closing price per share of Common Stock |     | $ | 0.58 |   |
| Volatility                                          |     |   |   83 | % |
| Expected term (years)                               |     |   |    5 |   |
| Risk-free interest rate                             |     |   | 4.12 | % |
| Dividend yield                                      |     |   |    0 | % |

The fair value of the New Warrants
using the assumptions above was $601,752
for the warrants, $104,153
for the change in fair value related to the change in exercise price, and $31,422
for the placement agent warrants. The fair value of the above warrants was recorded in Additional paid-in capital.

As of March 31, 2025, there were tradeable
warrants to purchase up to an aggregate of 1,601,259
shares of Common Stock outstanding and non-tradeable warrants to purchase an aggregate of up to 3,269,791
shares of Common Stock outstanding.

SCHEDULE OF CLASS OF WARRANT

|                                                      |     | Number of       
 warrants issued |            |     | Weighted-