Company: BIAF
Filing Date: 2025-05-02
Form Type: S-1
Source: 0001641172-25-008170
Chunk: 173

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-02
Form: S-1
Chunk 173
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 number of shares of Common Stock and the date of stockholder approval of the issuance of the shares of Common Stock upon exercise of the April 2025 Warrants (the Warrant Stockholder Approval), the April 2025 Warrants will become exercisable.

We have agreed to hold a stockholders’ meeting in order to seek such stockholder approvals from our stockholders in order to permit the exercise of the April 2025 Warrants. We have agreed to file a preliminary proxy statement to seek Warrant Stockholder Approval within ten days of the closing date of this offering and to hold the meeting no later than 60 days after the closing date of this offering. We cannot assure you that we will be able to hold the meeting in this timeframe or obtain this requisite approval. In the event that we are unable to obtain the Warrant Stockholder Approval, the April 2025 Warrants will not be exercisable and therefore have no value.

Duration and Exercise Price

Each April 2025 Warrant offered hereby will have an exercise price of $[*] per share (110% of the combined public offering price per share of Common Stock and accompanying April 2025 Warrant) and will be exercisable beginning on the effective date of the Warrant Stockholder Approval (the “Initial Exercise Date”). The April 2025 Warrants will expire on the five-year anniversary of the Initial Exercise Date. The exercise price and number of shares of Common Stock issuable upon exercise of the April 2025 Warrants is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our Common Stock and the exercise price, provided however that, in the event of a reverse stock split, the number of shares underlying the April 2025 Warrants and the exercise price thereof will each be appropriately adjusted according to the reverse stock split ratio. The April 2025 Warrants will be issued separately from the Common Stock and Pre-Funded Warrants and may be transferred separately immediately thereafter. The exercise price is also subject to voluntary adjustment. The April 2025 Warrants will be issued in certificated form only.

The terms of the April 2025 Warrants will also include (i) a one-time thirty percent increase in the number of shares of Common Stock issuable upon exercise of the April 2025 Warrants if a reverse stock split is effected prior to the expiration of the April 2025 Warrants and (ii) a decrease of the exercise price of the April 2025 Warrants,