Bullfrog AI Announces Closing of Registered Direct Offering and Concurrent Private Placement for Aggregate Gross Proceeds of $3.13 Million

Core Viewpoint - BullFrog AI Holdings, Inc. has successfully closed a definitive agreement for the purchase and sale of 1,565,000 shares of common stock and common warrants, raising approximately $3.13 million in gross proceeds through a registered direct offering and a concurrent private placement at a combined purchase price of $2.00 per share [1][2]. Group 1: Offering Details - The offering includes 1,565,000 shares of common stock and common warrants to purchase an equal number of shares, with an exercise price of $2.00 per share [1]. - The warrants are initially exercisable six months from the issuance date and will expire five years from that date [1]. - The gross proceeds from the offering are expected to be approximately $3.13 million, excluding any proceeds from the exercise of the warrants and before deducting placement agent fees and other expenses [2]. Group 2: Regulatory Compliance - The shares and pre-funded warrants will be issued under an effective shelf registration statement on Form S-3, previously filed with the SEC [3]. - The common warrants issued in the private placement are offered under an exemption from registration requirements and have not been registered under the Securities Act [3]. Group 3: Company Overview - BullFrog AI is a technology-enabled drug development company utilizing AI and machine learning to enhance the development of pharmaceuticals and biologics [4]. - The company employs its proprietary bfLEAP(TM) platform to analyze biological, clinical, and real-world data, aiming to streamline data analytics and reduce development costs by decreasing failure rates in therapeutics [4].