Company: BFRG
Filing Date: 2025-09-26
Form Type: DEF 14A
Source: 0001493152-25-015716
Chunk: 16

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-26
Form: DEF 14A
Chunk 16
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 and Effect on Current Stockholders

Our Board has determined that the Purchase Agreement with Lincoln Park and the transactions contemplated thereby are in the best interests of the Company and its stockholders because the right to sell shares to Lincoln Park provides the Company with a potential source of capital and the ability to access that capital when and as needed.

The Purchase Agreement does not affect the rights of the holders of outstanding common stock, but the sale of shares to Lincoln Park pursuant to the terms of the Purchase Agreement will have a dilutive effect on the existing stockholders, including the voting power and economic rights of the existing stockholders.

Vote Required and Recommendation of our Board

The Board of Directors recommends that stockholders vote “For” the Issuance Proposal.Unless otherwise specified, the proxy will be voted “For” approval of Proposal No. 1.

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<div align='center'>PROPOSAL NO. 2

approve a reverse split of the Company’s common stock at a ratio of not less than 1-to-2 and not more than 1-to-15</div>

Summary

Our Board has unanimously approved a proposal to amend the Amended and Restated Articles of Incorporation of the Company (the “Articles of Incorporation”) to effect a reverse stock split (the “Reverse Stock Split”) of all of our outstanding shares of common stock by a ratio of not less than 1-2 and not more than 1-15, such ratio to be determined in the discretion of the Board (the “Exchange Ratio”). The proposal provides that our Board shall have sole discretion pursuant to Section 78.390 of the NRS to elect, as it determines to be in the Company’s best interests, including for the purpose of maintaining the listing of our common stock on the Nasdaq Capital Market (“Nasdaq”) and for increasing the liquidity and marketability of the Company’s common stock, whether or not to effect the Reverse Stock Split and the Exchange Ratio, as soon as practicable, and no later than the Expiration Date (as defined below). Should the Board proceed with the Reverse Stock Split, the exact ratio shall be set at a whole number within the range determined by our Board in its sole discretion. Our Board believes that the availability of alternative reverse stock split ratios will provide it with the flexibility to implement the Reverse Stock Split in a manner designed to maximize the anticipated benefits for the Company and its stockholders. In determining whether to implement the Reverse Stock Split following the receipt of stockholder approval, our Board may consider,