Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 43

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 43
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 not considered votes cast, they will have no
effect on this proposal. Broker non-votes are not expected for this proposal because we believe this matter is a routine matter. If there
were to be any broker non-votes they would have no effect on the vote with respect to this proposal.

Approval by our stockholders of the Reverse Stock Split Proposal is not conditioned upon approval by our stockholders of the Authorized Increase Proposal (Proposal No. 5); conversely, approval by our stockholders of the Authorized Increase Proposal is not conditioned upon approval by our stockholders of the Reverse Stock Split Proposal.

<div align='center'>THE BOARD UNANIMOUSLY RECOMMENDS A VOTE “FOR” APPROVAL OF
THE REVERSE STOCK SPLIT PROPOSAL.</div>

| 23 |

<div align='center'>PROPOSAL NO. 4

APPROVAL OF THE WARRANT EXERCISE</div>

We are seeking stockholder approval for the issuance
of up to 2,926,166 shares of our Common Stock upon the exercise of common stock purchase warrants that were issued in connection with
our private placement offering (the “Private Placement”) that closed on February 26, 2025, as contemplated by
Nasdaq Listing Rules.

On February 25, 2025, we entered into
a warrant inducement agreement (the “Inducement Agreement”) with certain holders (the “Holders”)
of outstanding warrants to purchase shares of Common Stock issued in a private placement offering that closed on October 21, 2024 (the
“October Warrants”), and a private placement offering that closed on August 5, 2024 (the “August Warrants” and, together with the October Warrants, collectively, the “Existing Warrants”). Pursuant
to the Inducement Agreement, the Holders of the Existing Warrants agreed to exercise for cash (i) October Warrants to purchase an aggregate
of up to 1,136,391 shares of Common Stock (the “October Warrant Shares”) at the reduced exercise price of $0.58
per share and August Warrants to purchase an aggregate of up to 1,302,082 shares of Common Stock (the “August Warrant Shares”
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