Bullfrog AI announces closing of registered direct offering, private placement

BullFrog AI (BFRG) Holdings announced that it has closed its previously announced definitive agreement for the purchase and sale of an aggregate of 1,565,000 shares of common stock in a registered direct offering and, in a concurrent private placement, common warrants to purchase up to 1,565,000 shares of common stock at a combined purchase price of $2.00. The warrants will have an exercise price of $2.00 per share, are initially exercisable on the date that is six months from the date of issuance and will expire five years from such initial exercise date. The gross proceeds from the offering are expected to be approximately $3.13M, excluding any proceeds that may be received upon exercise of the warrants and before deducting the placement agent’s fees and other offering expenses payable by the company. WallachBeth Capital, LLC acted as sole placement agent for the registered direct offering and private placement.