On February 1, 2024 BullFrog AI Holdings, Inc. (NASDAQ:BFRG; BFRGW) ("Bullfrog AI" or the "Company"), a technology-enabled drug development company using artificial intelligence (AI) and machine learning to enable the successful development of pharmaceuticals and biologics, reported the pricing of an underwritten public offering of an aggregate of 1,507,139 shares of common stock (or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof) and accompanying warrants to purchase 1,507,139 shares of common stock at a public offering price of $3.782 per share (inclusive of the Pre-Funded Warrant exercise price) for gross proceeds of approximately $5,700,000, prior to deducting underwriting discounts and offering expenses (Press release, Bullfrog AI, FEB 1, 2024, View Source [SID1234639768]). In addition, the Company has granted the underwriters a 45-day option to purchase an additional 226,071 shares of common stock (and/or Pre-Funded Warrants in lieu thereof) and/or warrants to purchase 226,071 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.

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The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The offering is expected to close on February 5, 2024, subject to satisfaction of customary closing conditions.

WallachBeth Capital, LLC is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-276740) relating to the securities was filed with the Securities and Exchange Commission ("SEC") and became effective on January 31, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from WallachBeth Capital, LLC, via email: [email protected], or by calling +1 (646) 237-8585, or by standard mail at WallachBeth Capital, LLC, Attn: Capital Markets, 185 Hudson St, Jersey City, NJ 07311, USA. In addition, a copy of the final prospectus, when available, relating to the offering may be obtained via the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.