Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 624

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 5
Chunk 624
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Common
Stock

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

In
February 2023, the Company completed its IPO for the sale of 1,297,318 units (each, a “Unit,” collectively, the “Units”)
at a price of $6.50 per Unit generating approximately $8.4 million of gross proceeds. Each Unit consisted of one share of the Company’s
common stock, one tradeable warrant (each, a “Tradeable Warrant,” collectively, the “Tradeable Warrants”) to
purchase one share of common stock at an exercise price of $7.80 per share, and one non-tradeable warrant (each, a “Non-tradeable
Warrant,” collectively, the “Non-tradeable Warrants”; together with the Tradeable Warrants, each, a “Warrant,”
collectively, the “Warrants”) to purchase one share of the Company’s common stock at an exercise price of $8.125. 

In
connection with the completion of its IPO, the Company issued an aggregate of 331,166 shares of common stock upon the conversion of certain
outstanding convertible debt (see Notes 5 and 6). 

In
connection with the IPO, in February 2023, the Company completed a 1-for-7 reverse split of its common stock. Stockholders’ equity
and all references to shares and per share amounts in the accompanying consolidated financial statements have been retroactively adjusted
to reflect the reverse stock split for all periods presented. 

In
February 2023, the Company issued 7,692 shares of common stock for consulting services and recognized $50,000 of compensation expense
related to these shares. 

In
April 2023, the Company issued 436,533 shares of common stock following the exercise of 436,533 warrants for proceeds of $1,494,658.

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 warrants (collectively the “Units”). The Units were sold at a price of $3.782 and the sale
was completed via an underwritten secondary public offering and includes the underwriter’s exercise of their overallotment option.
The warrants have an exercise price of $4.16 and