Company: BIAF
Filing Date: 2025-04-11
Form Type: S-1
Source: 0001641172-25-003892
Chunk: 85

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-11
Form: S-1
Chunk 85
---
cash or property to be received in a Fundamental Transaction, then the holder shall be given the same choice as to the consideration it
receives upon any exercise of the Inducement Warrants following such Fundamental Transaction. In addition, the successor entity, at the
request of holders of Inducement Warrants, will be obligated to purchase any unexercised portion of the Inducement Warrants in accordance
with the terms thereof. Notwithstanding the foregoing, in the event of a Fundamental Transaction, the holders of the Inducement Warrants
have the right to require the Company or a successor entity to redeem the Inducement Warrants for cash in the amount of the Black Scholes
Value (as defined in the Inducement Warrants) of the unexercised portion of the Inducement Warrants concurrently with or within 30 days
following the consummation of a Fundamental Transaction. However, in the event of a Fundamental Transaction which is not in the Company’s
control, including a Fundamental Transaction not approved by the Company’s board of directors, the holders of the Inducement Warrants
will only be entitled to receive from the Company or its successor entity the same type or form of consideration (and in the same proportion),
at the Black Scholes Value of the unexercised portion of the Inducement Warrant that is being offered and paid to the holders of Common
Stock in connection with the Fundamental Transaction, whether that consideration is in the form of cash, stock or any combination of cash
and stock, or whether the holders of Common Stock are given the choice to receive alternative forms of consideration in connection with
the Fundamental Transaction.

Except as otherwise provided in the Inducement Warrants
or by virtue of such holder’s ownership of shares of Common Stock, the holder of the Inducement Warrants will not have the rights
or privileges of a holder of Common Stock, including any voting rights, until the holder exercises such warrant.

| 37 |

<div align='center'>USE OF PROCEEDS</div>

The Selling Stockholders will receive all of the proceeds
of the sale of shares of Common Stock offered from time to time pursuant to this prospectus. Accordingly, we will not receive any proceeds
from the sale of shares of Common Stock that may be sold from time to time pursuant to this prospectus; however, we will receive proceeds
from the cash exercise of the Common Warrants. We currently intend to use these net proceeds for general corporate purposes, which