Company: BFRG
Filing Date: 2025-12-01
Form Type: 424B3
Source: 0001493152-25-025570
Chunk: 11

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-12-01
Form: 424B3
Chunk 11
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 effect on our business. If our common stock is delisted from Nasdaq, it could materially reduce the liquidity of our common stock and result in a corresponding material reduction in the price of our common stock as a result of the loss of market efficiencies associated with Nasdaq and the loss of federal preemption of state securities laws. In addition, delisting could harm our ability to raise capital through alternative financing sources on terms acceptable to us, or at all, and may result in the potential loss of confidence by investors, suppliers, customers and employees and fewer business development opportunities. If our common stock is delisted, it could be more difficult to buy or sell our common stock or to obtain accurate quotations, and the price of our common stock could suffer a material decline. Delisting could also impair our ability to raise capital on acceptable terms, if at all.

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Special Meeting of Stockholders

On September 26, 2025, the Company commenced mailing of its proxy statement for a Special Meeting of Stockholders to be held on October 22, 2025 at 10:00 a.m. Eastern Time (the “Special Meeting”). At the Special Meeting, the stockholders will vote on a proposal to approve a reverse stock split of the Company’s common stock at a ratio of not less than 1-to-2 and not more than 1-to-15. If the reverse stock split is approved at the Special Meeting, the final ratio will be determined by the Board of Directors. Amounts in this prospectus do not reflect the impact of any reverse stock split.

The Lincoln Park Transaction

On September 15, 2025, we entered into the Purchase Agreement with Lincoln Park, pursuant to which Lincoln Park has agreed to purchase from us up to an aggregate of $10 million of our common stock. Pursuant to the Purchase Agreement, we issued 147,682 shares of common stock to Lincoln Park as a fee for making its irrevocable commitment to purchase our common stock under the Purchase Agreement (the “Commitment Shares”). Also on September 15, 2025, concurrently with our execution of the Purchase Agreement, we entered into a registration rights agreement with Lincoln Park, dated as of September 15, 2025 (the “Registration Rights Agreement”), pursuant to which we filed with the Securities and Exchange Commission (the “SEC”), the registration statement that includes this prospectus to register for resale under the Securities Act of 1933, as amended, or the Securities Act, the shares of our common