Company: BIAF
Filing Date: 2025-06-02
Form Type: DEF 14A
Source: 0001641172-25-013280
Chunk: 44

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-02
Form: DEF 14A
Chunk 44
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”)
were consummated on February 26, 2025 (the “Closing Date”).

In consideration of the Holders’
immediate exercise of the Existing Warrants in accordance with the Inducement Agreement, we issued unregistered Common Stock Purchase
Warrants (the “New Warrants”) to purchase an aggregate of up to 2,926,166 shares of Common Stock (120% of the
number of Existing Warrant Shares issued upon exercise of the Existing Warrants) (the “New Warrant Shares”),
at an exercise price of $0.85, to the Holders of the Existing Warrants. We also issued to the financial advisor warrants to purchase
up to 87,785 shares of our Common Stock with an exercise price of $0.85 (the “Advisor Warrants”).

The New Warrants
will be exercisable commencing on the effective date of stockholder approval for the issuance of the shares of Common Stock issuable
upon exercise of the New Warrants (the “Stockholder Approval Date”) and will expire on the fifth anniversary
of the Stockholder Approval Date. If at any time after the later of August 26, 2025, (the six month anniversary of the date of
issuance) and the Stockholder Approval Date there is no effective registration statement under the Securities Act for the resale of the
New Warrant Shares, any holder may, in its sole discretion, elect to exercise New Warrants through a cashless exercise, in which case
such holder would receive upon such exercise the net number of shares of Common Stock determined according to the formula set forth in
the New Warrant.

The exercise
price of the New Warrants, and the number of New Warrant Shares, are subject to adjustment in the event of any stock dividend or split,
reverse stock split, recapitalization, reorganization, or similar transaction, as described in the New Warrants. In addition, the New Warrants provide that we may also, at any time during the term of the New Warrants, subject to the prior written consent of the applicable holder, voluntarily reduce the then-current exercise price to any amount and for any period of time, subject to the rules and regulations of Nasdaq.

A holder will not have the
right to exercise any portion of the New Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99%
(or, upon election of the holder, 9.99%)