Company: BFRG
Filing Date: 2025-10-10
Form Type: S-1
Source: 0001493152-25-017809
Chunk: 35

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-10-10
Form: S-1
Chunk 35
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| $                        | 1.50 |    |     |                            | 5,000,000 |     |                             | 32.79 | % |     | $                               |  7,278,477 |
| $                        | 2.00 |    |     |                            | 5,000,000 |     |                             | 32.79 | % |     | $                               |  9,704,636 |
| $                        | 2.50 |    |     |                            | 4,147,682 |     |                             | 28.81 | % |     | $                               | 10,000,000 |

(1) Although the Purchase Agreement
provides that we may sell up to $10.0 million of our common stock to Lincoln Park, we are only registering 5,000,000 of our common stock
for resale under this prospectus, including 147,682 Commitment Shares that we have already issued to Lincoln Park as a fee for making
its irrevocable commitment to purchase our common stock under the Purchase Agreement (for which we have not and will not receive any
cash consideration), which may or may not cover all the shares of our common stock we ultimately sell to Lincoln Park under the Purchase
Agreement, depending on the purchase price per share. Accordingly, the gross proceeds reflected in the fourth column from the left are
calculated by multiplying only the 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