Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 28

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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5, and December
31, 2024, the Company had 28,193,118 and 12,298,124 warrants outstanding to purchase one share of the Company’s Common Stock for
each warrant at a weighted average exercise price of $1.44 and expire at various dates through May 2030. During the six months ended
June 30, 2025, a total number of 4,870,010 warrants were exercised into an equivalent number of shares of Common Stock as compared to
48 warrants being exercised during the six months ended June 30, 2024. The proceeds of the exercised warrants for the six months ended
June 30, 2025 were approximately $2.4 million, compared to proceeds of $294 during the six months ended June 30, 2024.

On
February 25, 2025, the Company entered into a warrant inducement agreement (the “February Inducement Agreement”) with certain
holders (the “Holders”) of the Company’s warrants to purchase shares of the Company’s common stock, issued in
a private placement offering that closed on October 21, 2024 (the “October Warrants”), and a private placement offering that
closed on August 5, 2024 (the “August Warrants” and, together with the October Warrants, collectively, the “Existing
Warrants”). In consideration of the Holders’ immediate exercise of the Existing Warrants in accordance with the February
Inducement Agreement, the Company issued unregistered Common Stock Purchase Warrants (the “New Warrants”) to purchase an
aggregate of up to 2,926,166 shares of Common Stock (the “New Warrant Shares”) to the Holders of the Existing Warrants, with
an exercise price of $0.85.

On
May 7, 2025 the Company completed a public offering (the “Offering”) of 7,784,904 shares of our Common Stock, pre-funded
warrants to purchase 2,371,346 shares of our Common Stock, together with warrants to initially purchase up to 15,234,375 shares of Common
Stock (the “May 2025 Warrants”). Each share and accompanying warrant was sold at a combined public offering price of $0.32
per share, and each pre-funded warrant and accompanying warrant was sold at a combined public offering price of $0.313 per share.

The
May 2025 Warrants