Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 66

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 7
Chunk 66
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 offering consisted of 10,156,250 shares of our Common Stock, of which
2,371,346 were pre-funded warrants, together with warrants to purchase up to 15,234,375 shares of Common Stock, at a combined offering
price for each share of common stock (or pre-funded warrant) and accompanying warrant of $0.32 per share. The warrants have an exercise
price of $0.352 per share and have certain provisions that allow for additional shares to be issued in the event of a reverse split of
the Company’s common stock. Additionally, the warrants include an anti-dilution adjustment which is subject to stockholder approval.

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, for gross proceeds to the Company of $990,000, initially convertible into 4,304,343 shares of the
Company’s Common Stock, par value $0.007 per share at an initial conversion price of $0.23 per share and (ii) warrants to purchase
up to 6,714,780 shares of the Company’s Common Stock at an exercise price of $0.352 per share of Common Stock.

On August 13, 2025, the Company entered into a warrant
inducement agreement with the holder of a warrant to purchase 450,000 shares of Common Stock originally issued on August 5, 2024, with
a current exercise price of $1.25 per share and a warrant to purchase 650,000 shares of Common Stock originally issued on October 21,
2024 with a current exercise price of $1.50 per share, pursuant to which the Holder agreed to exercise in cash the Existing Warrants at
a reduced exercise price of $0.23 per share, for gross proceeds to the Company of $253,000. As an inducement to such exercise, the Company
agreed to issue to the holder unregistered warrants (the “New Warrants”) to purchase up to 1,430,000 shares of the Company’s
Common Stock. The New Warrants, which have an exercise price of $0.352 per share and will not become exercisable