Company: BFRG
Filing Date: 2025-09-26
Form Type: DEF 14A
Source: 0001493152-25-015716
Chunk: 18

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-26
Form: DEF 14A
Chunk 18
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 stock, our ability to have our shares of common stock remain listed on Nasdaq, the anticipated impact of the Reverse Stock Split on our ability to raise additional financing, and prevailing general market and economic conditions. No further action on the part of stockholders would be required to either implement or not implement the Reverse Stock Split. If our stockholders approve the proposal, and the Board determines to effect the Reverse Stock Split, we would communicate to the public, prior to the Effective Date (as defined below), additional details regarding the Reverse Stock Split, including the specific Exchange Ratio selected by the Board.

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If the Board does not implement the Reverse Stock Split prior to December 31, 2026 (the “Expiration Date”), the authority granted in this proposal to implement the Reverse Stock Split will terminate. The Board would want to implement the Reverse Stock Split to remain on Nasdaq or to regain compliance with Nasdaq or otherwise to improve the liquidity and marketability of its common stock. As such, the Board reserves its right to elect not to proceed with the Reverse Stock Split if it determines, in its sole discretion, that this proposal is no longer in the Company’s best interest.

Effective Date

If the proposed amendment to the Articles of Incorporation to give effect to the Reverse Stock Split is approved at the Special Meeting and the Board determines to effect the Reverse Stock Split, the Reverse Stock Split will become effective as of 5:30 p.m. Local Time on the effective date of the certificate of amendment to our Articles of Incorporation with the Secretary of State of the State of Nevada, which we would expect to be the date of filing (the “Effective Date”). Except as explained below with respect to fractional shares, each issued share of common stock immediately prior to the Effective Date will automatically be changed, as of the Effective Date, into a fraction of a share of common stock based on the Exchange Ratio determined by the Board, and the Company will issue an additional share to all holders of fractional shares of common stock.

Purpose of the Reverse Stock Split

The purpose for the Reverse Stock Split is based on the Board’s belief that the Reverse Stock Split may be necessary to maintain the listing of our common stock on Nasdaq or to increase the liquidity and marketability of our common stock.

Maintain our listing on Nasdaq. Our common stock is traded on Nasdaq. Among other rules, the Company must be in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”), where the closing bid price of the