Company: BFRG
Filing Date: 2025-12-01
Form Type: 424B3
Source: 0001493152-25-025570
Chunk: 14

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-12-01
Form: 424B3
Chunk 14
---
 immediately prior to the execution of the Purchase Agreement (the “Exchange Cap”), unless (i) we obtain stockholder approval to issue shares of our common stock in excess of the Exchange Cap or (ii) the average price of all applicable sales of our common stock to Lincoln Park under the Purchase Agreement equals or exceeds $1.4053 (the “Base Price”), representing the lower of (A) the official closing price of our common stock on Nasdaq on the trading day immediately preceding the date of the Purchase Agreement and (B) the average official closing price of our common stock on Nasdaq for the five consecutive trading days ending on the trading day immediately preceding the date of the Purchase Agreement, as adjusted under applicable Nasdaq rules to take into account the issuance of the Commitment Shares to Lincoln Park for non-cash consideration, so that the Exchange Cap would not apply under applicable Nasdaq rules to issuances and sales of our common stock to Lincoln Park under the Purchase Agreement.

At a special meeting of our stockholders to be held on October 22, 2025, among other things, we are seeking the requisite stockholder approval in accordance with applicable Nasdaq listing rules to issue and sell shares of our common stock in excess of the 2,048,936 share Exchange Cap referred to above, if we so choose, to Lincoln Park under the Purchase Agreement. Accordingly, if such requisite stockholder approval is obtained, we would be able to issue and sell to Lincoln Park, in addition to the 147,682 Commitment Shares we have already issued to Lincoln Park on September 15, 2025, all of the 4,852,318 Purchase Shares under the Purchase Agreement that are being registered under the Securities Act for resale by Lincoln Park under the registration statement that includes this prospectus, at purchase prices averaging less than the Base Price, without any further aggregate share issuance limitations under Nasdaq rules. However, we cannot guarantee that we will obtain such requisite stockholder approval the special meeting of our stockholders to be held on October 22, 2025, and therefore, there can be no assurance that we will be able to issue and sell to Lincoln Park, in addition to the 147,682 Commitment Shares we have already issued to Lincoln Park on September 15, 2025, all of the 4,852,318 Purchase Shares under the Purchase Agreement that are being registered under the Securities Act for resale by Lincoln Park under the registration statement that includes this prospectus. The Exchange Cap will continue to be applicable