Company: BFRG
Filing Date: 2025-12-01
Form Type: 424B3
Source: 0001493152-25-025570
Chunk: 34

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-12-01
Form: 424B3
Chunk 34
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 4,852,318 shares of common stock that may be issued and sold by us to Lincoln Park in the future as
Purchase Shares under the Purchase Agreement that are being registered under the Securities Act for resale by Lincoln Park in the registration
statement that includes this prospectus, by the assumed average price per share set forth in the first column on the left, because we
have not and will not receive any cash consideration for the 147,682 shares of common stock that we issued to Lincoln Park as Commitment
Shares on September 15, 2025. Additionally, under applicable Nasdaq rules, in no event may we issue or sell to Lincoln Park under the
Purchase Agreement shares of our common stock (including the Commitment Shares) in excess of the Exchange Cap (or 2,048,936 shares of
common stock, representing 19.99% of the shares of our common stock outstanding immediately prior to the execution of the Purchase Agreement),
unless (i) we obtain stockholder approval to issue shares of our common stock to Lincoln Park under the Purchase Agreement 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 the $1.4053 Base Price, 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 authorization 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 shares of common stock as 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. The number of registered shares of common stock to
be issued reflected in the second column from the left does not