Company: BFRG
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023560
Chunk: 14

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 14
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2024, the Company received approximately $3.13
million of gross proceeds from the sale of (i) 862,602
shares of the Company’s common stock and pre-funded warrants to purchase up to 702,398
shares of common stock with an exercise price of $0.0001
per share, at a purchase price of $2.00
per share of common stock and a purchase price of $1.9999
per pre-funded warrant in a registered direct offering and (ii) warrants to purchase an aggregate of 1,565,000
shares of common stock with an exercise price of $2.00
per share exercisable after six (6) months from the date of issuance for a five
year period from the initial exercise date in a concurrent private placement. In conjunction with the transactions, the Company
paid the placement agent an aggregate cash fee of 8.0% of the gross proceeds from the sale of securities in the transaction,
reimbursed the placement agent for certain out-of-pocket expenses and issued to the placement agent warrants to purchase an
aggregate of 62,600 shares of common stock, equal to 4% of the aggregate number of shares of common stock and pre-funded warrants
sold in the registered direct offering. The placement agent warrants have an exercise price of $2.00 per share and are exercisable
six (6) months from the date of issuance for a five year period from the initial exercise date. The pre-funded warrants were
exercised in their entirety in cashless exercise transactions as of March 31, 2025, pursuant to which 702,373
shares of common stock were issued.

In
April 2025, the Company entered into the ATM Agreement with BTIG, LLC, pursuant to which the Company may offer and sell, from time to
time in its sole discretion, shares of common stock having an aggregate offering price of $20.0 million through BTIG, as the Company’s
sales agent. The Company is not obligated to make any sales of common stock under the ATM Agreement, and BTIG is not required to sell
any specific number or dollar amount of shares. Subject to the Company’s request to sell shares of common stock, BTIG will use
commercially reasonable efforts, consistent with its normal trading and sales practices, to sell such shares on the Company’s behalf.
The Company will pay BTIG a commission of 3% of the gross sales price of any shares of common stock sold through