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

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-12-01
Form: 424B3
Chunk 25
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 stock split, or other similar transaction as set forth in the Purchase Agreement. We may at any time in our sole discretion terminate the Purchase Agreement without fee, penalty or cost upon one business day notice. Actual sales of shares of Common Stock by the Company to Lincoln Park under the Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the Company as to the appropriate sources of funding for the Company and its operations.

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As of August 29, 2025, there were 10,249,805 shares of our common stock outstanding, of which 7,794,378 shares were held by non-affiliates. Although the Purchase Agreement provides that we may sell up to an aggregate of $10 million of our common stock to Lincoln Park, only 5,000,000 shares of our common stock are being registered for resale under this prospectus, if and when we sell shares of our common stock to Lincoln Park under the Purchase Agreement. Depending on the market prices of our common stock at the time we elect to issue and sell shares of our common stock to Lincoln Park under the Purchase Agreement, we may need to register for resale under the Securities Act additional shares of our common stock in order to receive aggregate gross proceeds equal to the $10 million total commitment available to us under the Purchase Agreement. If 4,852,318 shares of our common stock that may be sold to Lincoln Park in the future under the Purchase Agreement that are being registered for resale hereunder were issued and outstanding as of the date of this prospectus (without taking into account the Beneficial Ownership Cap described below), such shares of our common stock, taken together with the 147,682 Commitment Shares that we issued to Lincoln Park upon execution of the Purchase Agreement and outstanding as of the date of this prospectus, would represent approximately 32.79% of the total number of shares of our common stock outstanding and approximately 39.08% of the total number of outstanding shares held by non-affiliates of the Company, in each case as of August 29, 2025. If we elect to issue and sell to Lincoln Park under the Purchase Agreement more than the additional 5,000,000 shares of our common stock being registered for resale by Lincoln Park under this prospectus, which we have the right, but not the obligation, to do, we must first register for resale under the Securities