BullFrog AI secures $10 million equity funding agreement with Lincoln Park

BullFrog AI Holdings Inc. (NASDAQ: BFRG) entered into a purchase agreement with Lincoln Park Capital Fund LLC on September 15, 2025, establishing a $10 million equity funding arrangement.

Under the agreement, Lincoln Park committed to purchase up to $10 million of BullFrog AI's common stock over a 36-month period. The company has the discretion to sell shares to Lincoln Park but is not obligated to do so.

The arrangement allows BullFrog AI to access funding at its sole discretion, subject to certain limitations outlined in the purchase agreement. Sales can occur at various times during the three-year term once specific conditions are met.

The funding becomes available after a registration statement covering Lincoln Park's resale of the shares is declared effective by the Securities and Exchange Commission and a final prospectus is filed. BullFrog AI agreed to file this registration statement as part of a separate registration rights agreement.

The company's common stock carries a par value of $0.00001 per share. Lincoln Park's purchase obligation extends throughout the 36-month period beginning when all conditions specified in the purchase agreement are satisfied.

This information is based on the company's press release statement regarding the equity funding arrangement.

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