Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 1229

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 12
Chunk 1229
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 the accompanying consolidated financial statements have been retroactively adjusted
to reflect the reverse stock split for all periods presented. 

In
February 2023, the Company issued 7,692 shares of common stock for consulting services and recognized $50,000 of compensation expense
related to these shares. 

In
April 2023, the Company issued 436,533 shares of common stock following the exercise of 436,533 warrants for proceeds of $1,494,658.

In
February 2024, the Company received approximately $6.5 million of gross proceeds from the sale of 1,247,092 shares of common stock, 478,429
pre-funded warrants and 1,725,521 warrants (collectively the “Units”). The Units were sold at a price of $3.782 and the sale
was completed via an underwritten secondary public offering and includes the underwriter’s exercise of their overallotment option.
The warrants have an exercise price of $4.16 and expire five years from issuance. The pre-funded warrants had an exercise price of $0.001
and were exercised in their entirety in the first quarter of 2024.

In
October 2024, the Company received approximately $3.13 million of gross proceeds from the sale of (i) 862,602 shares of the Company’s
common stock and pre-funded warrants to purchase up to 702,398 shares of Common Stock with an exercise price of $0.0001 per share, at
a purchase price of $2.00 per share of common stock and a purchase price of $1.9999 per pre-funded warrant in a registered direct offering
and (ii) warrants to purchase an aggregate of 1,565,000 shares of common stock with an exercise price of $2.00 per share exercisable
after six (6) months from the date of issuance for a five-year period from the initial exercise date in a concurrent private placement.
In conjunction with the transactions, the Company paid the placement agent an aggregate cash fee of 8.0% of the gross proceeds from the
sale of securities in the transaction, reimbursed the placement agent for certain out-of-pocket expenses and issued to the placement
agent warrants to purchase an aggregate of 62,600 shares of Common Stock, equal to 4% of the aggregate number of shares of common stock
and pre-funded warrants sold in the registered direct offering. The warrants have an exercise price of $2.00 per share and