BullFrog AI Shares Drop After Direct Offering, Private Placement Price

Dow Jones10-18

By Chris Wack

BullFrog AI Holdings shares were down 9% at $2.37 after the company entered into a registered direct offering for the purchase and sale of 1.6 million shares, and in a concurrent private placement, common warrants to buy up to 1.6 million shares at a combined purchase price of $2.

The warrants will have an exercise price of $2 a share, are initially exercisable on the date that is six months from the date of issuance and will expire five years from the initial exercise date.

The closing of the offering is expected to occur on or about Monday.

The proceeds from the offering are expected to be $3.13 million, 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.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 18, 2024 10:20 ET (14:20 GMT)

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