Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 47

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 47
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,926,166 New Warrants, if exercised for cash. Loss of these potential funds could adversely impact our ability to fund
our operations.

The Board is not seeking the approval of our stockholders
to authorize our entry into or consummation of the Warrant Inducement, as the Warrant Inducement has already been completed. We are only
asking for approval to issue up to an aggregate of 2,926,166 New Warrant Shares upon exercise of the New Warrants.

Potential Consequences if Proposal No. 4 is Not Approved

The failure of our stockholders to approve this Proposal
No. 4 will mean that (i) we cannot permit the exercise of the New Warrants and (ii) may incur substantial additional costs and expenses.

Each New Warrant has an initial exercise price of
$0.85 per share. Accordingly, we would realize an aggregate of up to approximately $2.5 million in gross proceeds, if all the New Warrants
were exercised for cash, which could adversely impact our ability to fund our operations. However, if we were to lower the exercise price
of the New Warrants we will receive less proceeds.

Potential Adverse Effects of the Approval of Proposal No. 4

If this Proposal No. 4 is approved, existing stockholders
will suffer dilution in their ownership interests in the future upon the issuance of the New Warrant Shares upon exercise of the New Warrants.
Assuming the full exercise of the New Warrants, an aggregate of 2,926,166 additional shares of Common Stock will be outstanding, and the
ownership interest of our existing stockholders would be correspondingly reduced. In addition, the sale into the public market of these
shares also could materially and adversely affect the market price of our Common Stock.

Required Vote

The affirmative vote from the holders of a majority
of the shares present in person or represented by proxy and entitled to vote on the Warrant Exercise Proposal at the Annual Meeting is
required for approval of this proposal. Abstentions will have the same effect as votes AGAINST this proposal. Broker non-votes will have
no effect on this proposal.

<div align='center'>THE BOARD UNANIMOUSLY RECOMMENDS

AVOTE “FOR” APPROVAL OF

THE WARRANT EXERCISE PROPOSAL.</div>

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<div align='center'>Proposal NO. 5

Approval of AN Increase In THE Number of Authorized Shares of Common Stock</div>

Our