Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 16

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 16
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 at a par value of $0.00001 with 5,500,000 being designated as Series A Convertible
Preferred Stock. Of the 5,500,000 authorized shares of Series A Convertible Preferred Stock, 73,449 were issued and outstanding as of
September 30, 2025. Each share of Series A Convertible Preferred Stock is convertible at any time into 10 shares of the Company’s
common stock. The Series A Preferred Stock is the economic equivalent of the common stock but has no voting rights and is subject to
a blocker which prohibits the conversion into common stock if it would result in the investor owning more than 4.99% of the Company’s
outstanding common stock at such time.

    10

Common
Stock

The
Company has 100,000,000 shares of common stock authorized at a par value of $0.00001.

In
February 2024, the Company received approximately $6.5 million of gross proceeds from the sale of 1,247,092 shares of common stock, 478,429
pre-funded warrants and 1,725,521 common warrants (each share of common stock or pre-funded warrant and common warrant, collectively,
the “Units”). The Units were sold at a price of $3.782 and the sale was completed via an underwritten public offering and
includes the underwriter’s exercise of their overallotment option. The warrants have an exercise price of $4.16 and expire five
years from issuance. In conjunction with the transaction, the Company issued to the placement agent warrants to purchase an aggregate
of 90,428 shares of common stock. The placement agent warrants have an exercise price of $4.16 and expire five years from issuance. The
pre-funded warrants had an exercise price of $0.001 and were all exercised in their entirety in the first quarter of 2024.

In
October 2024, the Company received approximately $3.1 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