Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 762

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 762
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 7,511,726 

Warrants
Issued in Conjunction with Transactions

During
the year ended December 31, 2023, the Company issued the following warrants as part of the Company’s February 2023 IPO:

●276,452
                                            contingent warrants to certain debt holders with an exercise price of $4.27 and an expiration
                                            date 5 years from issuance. As of December 31, 2024, 204,033 warrants have been exercised
                                            and 72,419 remain outstanding. As a result of the February 2024 and October 2024 secondary
                                            offerings, the exercise price of the remaining outstanding warrants was initially reduced
                                            to $3.782 and subsequently to $2.00 pursuant to the anti-dilution provision contained in
                                            the warrants. The effect of the changes in price was recognized as deemed dividends of $28,245
                                            which increases net loss available to common stockholders for the year ended December 31,
                                            2024.

●18,000
                                            contingent warrants as fees to the Company’s underwriters with an exercise price of
                                            $8.125 and an expiration date 4 years from issuance. As of December 31, 2024, none of these
                                            warrants have been exercised. As a result of the February 2024 and October 2024 secondary
                                            offerings, the exercise price of the remaining outstanding warrants was initially reduced
                                            to $3.782 and subsequently to $2.00 pursuant to the anti-dilution provision contained in
                                            the warrants. The effect of the changes in price was recognized as deemed dividends of $16,740
                                            which increases net loss available to common stockholders for the year ended December 31,
                                            2024.

●1,297,318
                                            tradable warrants with an exercise price of $7.80 and an expiration date 5 years from issuance.
                                            As of December 31, 2024, 100 warrants have been exercised and 1,297,218 remain outstanding.

●1,297,318
                                            non-tradable warrants with an exercise price of $8.125 and an expiration date 5 years from
                                            issuance. As of December 31, 2024, 7,500 warrants have been exercised and 1,289,818 remain
                                            outstanding.

     F-14 

●153,409
                                            tradeable warrants to our underwriters pursuant to the