Company: BIAF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023405
Chunk: 26

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 26
---
.

Note
12. COMMON STOCK

Common
Stock

The
Company has authorized a total of 350,000,000 shares of Common Stock, $0.007 par value per share. On July 22, 2025, the Company received
stockholder approval to increase the number of authorized shares of Common Stock from 100,000,000 shares to 350,000,000 shares, and on
August 13, 2025, the Company filed an amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware
to effect the increase. The Company has issued 3,473,065 shares of Common Stock, of which 6,805 are unvested restricted stock awards
as of September 30, 2025, and 519,155 shares of Common Stock, of which 11,635 are unvested restricted stock awards as of December 31,
2024 adjusted for the 30-1 reverse stock split.

On
August 13, 2025, the Company entered into a securities purchase agreement with certain institutional and accredited investors, pursuant
to which the Company agreed to issue and sell, in a private placement, (i) 990 shares of the Company’s newly designated Series
B Convertible Preferred Stock, with a par value $0.001 per share and stated value of $1,000 per share initially convertible into 143,476
shares of the Company’s Common Stock, par value $0.007 per share at an initial conversion price of $6.90 per share and (ii) warrants
to purchase up to 223,824 shares of the Company’s Common Stock at an exercise price of $10.56 per share of Common Stock. The investors
have converted 290 of the 990 Series B Convertible Preferred Stock in exchange for 42,028 shares of Common Stock as of September 30,
2025.

On
September 29, 2025, the Company consummated a best efforts public offering of an aggregate of (i) 1,047,694 shares of Common Stock and
(ii) pre-funded warrants to purchase up to 874,067 shares of Common Stock in lieu of shares of Common Stock. Each share was sold at a
public offering price of $2.50. Each pre-funded warrant was sold at a public offering price of $2.493. The total gross proceeds for the
transaction were approximately $4.8 million.

On
May 22,