Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 56

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 56
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 be adjusted based on the reverse stock split ratio) will be issuable upon exercise of the May 2025 Warrants, assuming the Anti-Dilution Adjustment is triggered and the exercise price of the May 2025 Warrant is reduced to the $0.10 floor price. Assuming the full exercise of the May 2025 Warrants (including pursuant to the Reverse Stock Split Adjustment and the Anti-Dilution Adjustment), an aggregate of 69,712,498 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.

Interests of Directors and Executive Officers

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposal. However, as a condition to the closing of the best efforts public offering on May 7, 2025, our officers and directors executed support agreements, agreeing to vote in support of this Proposal No. 6, as well as the Authorized Increase Proposal (Proposal No. 5) and the Adjournment Proposal (Proposal No. 7).

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 Anti-Dilution Adjustment 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.

Approval by our stockholders of this Anti-Dilution Adjustment Proposal is not conditioned upon approval by our stockholders of the Authorized Increase Proposal (Proposal No. 5).

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

AVOTE “FOR” APPROVAL OF THE

ANTI-DILUTION ADJUSTMENT PROPOSAL.</div>

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<div align='center'>PROPOSAL NO. 7

APPROVAL OF THE ADJOURNMENT PROPOSAL</div>

Background of and Rationale for the Adjournment Proposal

The Board of Directors believes that if the number of shares of our Common Stock outstanding and entitled to vote at the Annual Meeting is insufficient to approve the Reverse Stock Split Proposal, the Warrant Exercise Proposal, the Authorized Increase Proposal, and/or the Anti-Dilution Adjustment Proposal, it is in the best interests of the stockholders to enable the Board to continue to seek