WallachBeth Capital Announce Pricing of Bullfrog AI's Registered Direct Offering and Concurrent Private Placement for Aggregate Gross Proceeds of $3.13 Million
WallachBeth Capital announced that BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) has entered into a definitive agreement for a registered direct offering and concurrent private placement. The offering includes:
- 1,565,000 shares of common stock (or equivalents)
- Common warrants to purchase up to 1,565,000 shares
- Combined purchase price of $2.00
- Warrant exercise price of $2.00 per share
The gross proceeds are expected to be approximately $3.13 million. The closing is anticipated around October 21, 2024. WallachBeth Capital, is acting as the sole placement agent for this offering.
WallachBeth Capital ha annunciato che BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) ha stipulato un accordo definitivo per un offerta diretta registrata e un collocamento privato congiunto. L'offerta include:
- 1.565.000 azioni ordinarie (o equivalenti)
- Diritti di acquisto comuni per un massimo di 1.565.000 azioni
- Prezzo di acquisto combinato di $2.00
- Prezzo di esercizio dei diritti di $2.00 per azione
I proventi lordi sono stimati intorno ai $3.13 milioni. La chiusura è prevista intorno al 21 ottobre 2024. WallachBeth Capital agisce come unico agente di collocamento per questa offerta.
WallachBeth Capital anunció que BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) ha firmado un acuerdo definitivo para una oferta directa registrada y un placement privado concurrente. La oferta incluye:
- 1.565.000 acciones comunes (o equivalentes)
- Warrants comunes para comprar hasta 1.565.000 acciones
- Precio de compra combinado de $2.00
- Precio de ejercicio de warrants de $2.00 por acción
Se espera que los ingresos brutos sean aproximadamente $3.13 millones. El cierre se anticipa alrededor del 21 de octubre de 2024. WallachBeth Capital actúa como el único agente de colocación para esta oferta.
WallachBeth Capital은 BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW)가 등록 직접 발행 및 동시 사모 배정에 대한 확정 계약을 체결했다고 발표했습니다. 이 발행에는 다음이 포함됩니다:
- 1,565,000주 보통주 (또는 그에 상응하는 것)
- 1,565,000주 구매를 위한 보통 워런트
- 결합 구매 가격 $2.00
- 주당 워런트 행사 가격 $2.00
총 수익은 약 $3.13백만으로 예상됩니다. 마감은 2024년 10월 21일경에 예상됩니다. WallachBeth Capital은 이 발행의 단독 배치 에이전트로 활동하고 있습니다.
WallachBeth Capital a annoncé que BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) a conclu un accord définitif pour une offre directe enregistrée et un placement privé simultané. L'offre comprend :
- 1 565 000 actions ordinaires (ou équivalents)
- Bons de souscription communs pour acheter jusqu'à 1 565 000 actions
- Prix d'achat combiné de 2,00 $
- Prix d'exercice des bons de 2,00 $ par action
Les produits bruts devraient être d'environ 3,13 millions de dollars. La clôture est prévue autour du 21 octobre 2024. WallachBeth Capital agit en tant qu'agent de placement exclusif pour cette offre.
WallachBeth Capital gab bekannt, dass BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) eine definitive Vereinbarung für ein registriertes Direktangebot und ein gleichzeitiges Private Placement getroffen hat. Das Angebot umfasst:
- 1.565.000 Stammaktien (oder Äquivalente)
- Stammwarrants zum Kauf von bis zu 1.565.000 Aktien
- Kombinierter Kaufpreis von $2.00
- Warrant-Ausübungspreis von $2.00 pro Aktie
Die Bruttoerlöse werden auf etwa $3.13 Millionen geschätzt. Der Abschluss wird um den 21. Oktober 2024 erwartet. WallachBeth Capital fungiert als alleiniger Platzierungsagent für dieses Angebot.
- Raised approximately $3.13 million in gross proceeds
- Strengthened financial position through registered direct offering and private placement
- Warrants provide potential for additional future funding if exercised
- Potential dilution for existing shareholders due to new share issuance
- Warrants may lead to further dilution if exercised in the future
Insights
This news is significant for Bullfrog AI Holdings, Inc. (BFRG). The company has secured
Key points to consider:
- The offering price of
$2.00 per share is at a discount to the current market price, which may put short-term pressure on the stock. - The inclusion of warrants with an exercise price equal to the offering price could lead to additional dilution if exercised.
- However, the capital infusion strengthens BFRG's balance sheet, potentially extending its operational runway.
- For a small-cap AI-driven drug development company, securing funding is important for continued R&D and operations.
While dilutive, this financing could be viewed positively if BFRG effectively utilizes the funds to advance its AI-powered drug development platform. Investors should monitor how the company deploys this capital and its impact on future milestones and potential partnerships in the pharmaceutical industry.
The closing of the offering is expected to occur on or about October 21, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds to from the offering are expected to be approximately
WallachBeth Capital, LLC is acting as sole placement agent for the registered direct offering and private placement.
The shares of common stock, the pre-funded warrants and the shares of common stock underlying the pre-funded warrants (but not the common warrants or the shares of common stock underlying the common warrants) will be issued in a registered direct offering pursuant to an effective shelf registration statement on Form S-3 (File No. 333-281341) previously filed with the
About WallachBeth Capital LLC:
WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the
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SOURCE WallachBeth Capital LLC
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