Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 31

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 31
---
) and an increase in the number of shares of Common
Stock underlying the May 2025 Warrants upon such exercise price reset 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 May 2025 Warrants immediately prior to
the reset (the “Anti-Dilution Adjustment”). After the adjustments the Company issued a total of 2,408,908 warrants related
to the May 2025 Warrants at an exercise price of $4.50.

On
August 13, 2025, the Company entered into a warrant inducement agreement with the holder of a warrant to purchase 15,000 shares of Common
Stock originally issued on August 5, 2024, with a current exercise price of $37.50 per share (the “August 2024 Warrant”)
and a warrant to purchase 21,667 shares of Common Stock originally issued on October 21, 2024 with a current exercise price of $45.00
per share, pursuant to which the Holder agreed to exercise in cash the Existing Warrants at a reduced exercise price of $6.90 per share,
for gross proceeds to the Company of $253,000. As an inducement to such exercise, the Company agreed to issue to the holder unregistered
warrants to purchase up to 47,666 shares of the Company’s Common Stock. The new warrants, which have an exercise price of $10.56
per share and will not become exercisable until the Company’s stockholders approve the issuance of shares of Common Stock. Following
stockholder approval, the warrants have a term of five years.

On
August 13, 2025, the Company entered into a securities purchase agreement with certain institutional and accredited investors, pursuant
to which the Company agreed to issue and sell, in a private placement, (i) 990 shares of the Company’s newly designated Series
B Convertible Preferred Stock, with a par value $0.001 per share and stated value of $1,000 per share initially convertible into 143,476
shares of the Company’s Common Stock, par value $0.007 per share at an initial conversion price of $6.90 per share and (ii) warrants
to purchase up to 223,824 shares of the Company’s Common Stock at an exercise price of $10.56 per share of Common Stock.

The
following table summarizes the calculated aggregate fair