Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 36

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 36
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cribed in the Reverse Stock Split Proposal, and we will not independently provide our stockholders with any such rights.

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Fractional Shares.We do not intend
to issue fractional shares in connection with the Reverse Stock Split. In lieu thereof, any person who would otherwise be entitled
to a fractional share of Common Stock as a result of the reclassification and combination following the Effective Time (after taking
into account all fractional shares of Common Stock otherwise issuable to such holder) shall be entitled to receive a cash payment equal
to the number of shares of the Common Stock held by such stockholder before the Reverse Stock Split that would otherwise have been exchanged
for such fractional share interest multiplied by the average closing sales price of the Common Stock as reported on the Nasdaq Capital
Market for the ten days preceding the Effective Time. After the Reverse Stock Split is effected, a stockholder will have no further interest
in our Company with respect to its fractional share interest and persons otherwise entitled to a fractional share will not have any voting,
dividend, or other rights with respect thereto, except to receive the above-described cash payment. Stockholders should be aware
that under the escheat laws of various jurisdictions, sums due for fractional interests that are not timely claimed after the Effective
Time may be required to be paid to the designated agent for each such jurisdiction. Stockholders otherwise entitled to receive such funds
who have not received them will have to seek to obtain such funds directly from the jurisdiction to which they were paid.

Material U.S. Federal Income Tax Considerations Related to the Reverse Stock Split

The following is a general summary of
the material U.S. federal income tax considerations to U.S. holders (as defined below) of the Reverse Stock Split. This discussion is
based upon current provisions of the Internal Revenue Code of 1986, as amended (the “Code”), existing and proposed
Treasury regulations promulgated under the Code (the “Treasury Regulations”), and judicial authority
and administrative interpretations, all as of the date of this document, and all of which are subject to change, possibly with retroactive
effect, and are subject to differing interpretations. Changes in these authorities may cause the tax consequences to vary substantially
from the consequences described below. We have not sought and will not seek an opinion of counsel or any rulings from the Internal Revenue
Service (the “IRS”) with respect to any of the tax considerations discussed below. As a result, there can be
no assurance that the IRS will not