bioAffinity Technologies, Inc. — Director's Dealing 2023

Mar 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: bioAffinity Technologies, Inc. (BIAF)
CIK: 0001712762
Period of Report: 2022-09-06

Reporting Person: Perlmutter Nathan M (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-09-06	Common Stock, par value $0.007	C	31780	$4.20	Acquired	197869	Direct
2022-09-06	Common Stock, par value $0.007	C	87851	$4.20	Acquired	285720	Direct
2022-09-06	Common Stock, par value $0.007	C	27378	$4.20	Acquired	313098	Direct
2022-09-06	Common Stock, par value $0.007	C	14811	$6.75	Acquired	327909	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-09-06	Secured Convertible Promissory Note	$4.20	C		Disposed	2022-10-31	Common Stock (31780)	Direct
2022-09-06	Secured Convertible Promissory Note	$4.20	C		Disposed	2022-10-31	Common Stock (87851)	Direct
2022-09-06	Unsecured Convertible Promissory Note	$4.20	C		Disposed	2022-10-31	Common Stock (27378)	Direct
2022-09-06	Series A Convertible Preferred Stock	$6.75	C	103682	Disposed		Common Stock (14811)	Direct
2022-09-06	Warrant (right to buy)	$6.125	A	24602	Acquired	2026-08-25	Common Stock (24602)	Direct
2022-09-06	Warrant (right to buy)	$6.125	A	71428	Acquired	2026-11-22	Common Stock (71428)	Direct
2022-09-06	Warrant (right to buy)	$6.125	A	23809	Acquired	2026-12-02	Common Stock (23809)	Direct
2022-07-20	Warrants (right to buy)	$5.25	A	47935	Acquired	2027-07-20	Common Stock (47935)	Direct

Footnotes

F1: The number of shares of common stock, par value $0.007 (the "Common Stock"), of bioAffinity Technologies, Inc. (the "Issuer") and the conversion or exercise prices reported in this Form 4 reflect the 1-for-7 reverse stock split of the Issuer's Common Stock, which became effective with the State of Delaware on June 23, 2022 in connection with the Issuer's initial public offering (the "IPO").

F2: In connection with the IPO closing on September 6, 2022, the $133,476.00 of outstanding principal and accrued but unpaid interest of this secured convertible promissory note (a "Note"), dated January 14, 2019, automatically converted into 31,780 shares of Common Stock at a conversion price of $4.20 per share (on a Common Stock equivalent basis).

F3: In connection with the IPO closing on September 6, 2022, the $368,975.34 of outstanding principal and accrued but unpaid interest of this secured Note, dated October 23, 2019, automatically converted into 87,851 shares of Common Stock at a conversion price of $4.20 per share (on a Common Stock equivalent basis).

F4: In connection with the IPO closing on September 6, 2022, the $114,991.78 of outstanding principal and accrued but unpaid interest of this unsecured Note, dated October 22, 2020, automatically converted into 27,378 shares of Common Stock at a conversion price of $4.20 per share (on a Common Stock equivalent basis).

F5: In connection with the IPO closing on September 6, 2022, the 103,682 shares of Series A Convertible Preferred Stock owned by Mr. Perlmutter automatically converted at the then-effective 1 for 7 conversion rate (as adjusted for the Issuer's 1-for-7 reverse stock split) into 14,811 fully paid and nonassessable shares of Common Stock. The Series A Convertible Preferred Stock had no expiration date.

F6: Represents a right to purchase 24,602 shares of Common Stock underlying a warrant that became initially exercisable in connection with the IPO closing on September 6, 2022 at an exercise price equal to the IPO price of $6.125 per share. The warrant was issued to Mr. Perlmutter on August 25, 2021 as consideration for funds he paid to the Issuer for certain of his Notes.

F7: Represents a right to purchase 71,428 shares of Common Stock underlying a warrant that became initially exercisable in connection with the IPO closing on September 6, 2022 at an exercise price equal to the IPO price of $6.125 per share. The warrant was issued to Mr. Perlmutter on November 22, 2021 as consideration for funds he paid to the Issuer for certain of his Notes.

F8: Represents a right to purchase 23,809 shares of Common Stock underlying a warrant that became initially exercisable in connection with the IPO closing on September 6, 2022 at an exercise price equal to the IPO price of $6.125 per share. The warrant was issued to Mr. Perlmutter on December 9, 2021 as consideration for his agreement to amend his unsecured Note to extend its maturity date to May 31, 2022.

F9: Represents a right to purchase an aggregate of 47,935 shares of Common Stock underlying three warrants at an exercise price of $5.25 per share. The warrants were issued to Mr. Perlmutter on July 20, 2022 as consideration for his agreement to amend his unsecured Note to extend its maturity date to October 31, 2022.