Company: BFRG
Filing Date: 2025-09-26
Form Type: DEF 14A
Source: 0001493152-25-015716
Chunk: 23

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-26
Form: DEF 14A
Chunk 23
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holders of record will not be affected by the Reverse Stock Split. The amendment to the Articles of Incorporation itself would not change the number of authorized shares of our common stock. The Reverse Stock Split will have the effect of creating additional unreserved shares of our authorized common stock. Other than those shares needed to satisfy the conversion and/or exercise of the Company’s convertible preferred stock and warrants, these additional shares of common stock may be used by us for various purposes in the future without further stockholder approval, including, among other things:

| ● | raising                                                                                
 capital to fund our operations and to continue as a going concern;                     |
| ● | 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