Bullfrog AI Prices Direct Offering, Private Placement for Gross Proceeds of $3.1 Million

MT Newswires Live2024-10-18

Bullfrog AI Holdings (BFRG) said Friday it has signed an agreement to buy and sell a total of about 1.6 million of its common shares in a registered direct offering and common warrants to buy up to an equal amount of common shares at a combined purchase price of $2 apiece for gross proceeds of roughly $3.1 million.

The warrants will have an exercise price of $2 apiece, exercisable six months from the issuance date, and will expire after five years of the initial exercise data, Bullfrog added.

The company said it intends to close the offering around Monday.

Shares of Bullfrog were down almost 9% in recent Friday trading.

Price: 2.37, Change: -0.23, Percent Change: -8.85

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