Company: BFRG
Filing Date: 2025-09-16
Form Type: PRE 14A
Source: 0001493152-25-013736
Chunk: 23

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-16
Form: PRE 14A
Chunk 23
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 establishing                                                                           
 strategic relationships with other companies;                                          |
| ● | providing                                                                              
 equity incentives to our employees, officers or directors; and                         |
| ● | expanding                                                                              
 our business or product lines through the acquisition of other businesses or products. |

While the Reverse Stock Split will make additional shares of common stock available for the Company to use in connection with the foregoing, the primary purpose of the Reverse Stock Split is to increase our stock price in order to maintain and/or regain compliance with the Nasdaq minimum bid price listing standard, which compliance will be a factor in determining the ratio of the Reverse Stock Split.

Effect on Employee Plans, Options, Restricted Stock Awards and Convertible or Exchangeable Securities.Pursuant to the terms of the Company’s 2022 Equity Incentive Plan (the “Plan”), the Board or a committee thereof, as applicable, will adjust the number of shares of common stock available for future grant under the Plan, the number of shares of common stock underlying outstanding awards, the exercise price per share of outstanding awards, and other terms of outstanding awards issued pursuant to the Plan to equitably reflect the effects of the Reverse Stock Split. Based upon the Reverse Stock Split ratio determined by the Board, proportionate adjustments are also generally required to be made to the per share exercise price and the number of shares of common stock issuable upon the exercise or conversion of outstanding options, and any convertible or exchangeable securities entitling the holders to purchase, exchange for, or convert into, shares of common stock. This would result in approximately the same aggregate price being required to be paid under such options, and convertible or exchangeable securities upon exercise, and approximately the same value of shares of common stock being delivered upon such exercise, exchange or conversion, immediately following the Reverse Stock Split as was the case immediately preceding the Reverse Stock Split. The number of shares of common stock subject to restricted share awards and restricted shares units will be similarly adjusted, subject to our treatment of fractional shares of common stock. The number of shares of common stock reserved for issuance pursuant to these securities and our Plan will be adjusted proportionately based upon the Reverse Stock Split ratio determined by the Board, subject to our treatment of fractional shares of common stock.

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Listing.Our shares of common stock currently trade on Nasdaq. If implemented, the Reverse Stock Split will not directly affect the listing of our common stock on Nasdaq, although we believe that the Reverse Stock Split could potentially increase our stock price, facilitating compliance with the Minimum Bid Requirement. Following the Reverse Stock