BullFrog AI (NASDAQ: BFRG) granted more time on Nasdaq listing

Rhea-AI Filing Summary

BullFrog AI Holdings, Inc. reported that Nasdaq has granted the company more time to fix a listing deficiency tied to its stockholders’ equity. Nasdaq previously notified the company on August 21, 2025 that its stockholders’ equity was below $2,500,000, which is required under Nasdaq Listing Rule 5550(b)(1). After submitting a compliance plan in late September 2025, the company received an extension letter from Nasdaq.

The company now has until February 17, 2026 to regain compliance with the stockholder equity requirement. If it does not do so by that deadline, its common stock and tradable warrants could be delisted from the Nasdaq Capital Market, although Nasdaq rules allow the company to appeal any delisting determination to a hearings panel. The company states that it intends to continue taking reasonable measures to regain compliance but notes there is no assurance it will succeed.

Positive

• None.

Negative

• BullFrog AI’s stockholders’ equity is below Nasdaq’s $2,500,000 requirement under Listing Rule 5550(b)(1), and failure to regain compliance by February 17, 2026 could lead to delisting of its common stock and tradable warrants.

Insights

Equity & Listing Standards Analyst

Nasdaq gives BullFrog AI more time, but delisting risk remains.

BullFrog AI Holdings, Inc. has fallen below Nasdaq’s stockholders’ equity requirement of $2,500,000 under Listing Rule 5550(b)(1). After receiving a deficiency notice on August 21, 2025, the company submitted a plan in late September explaining how it aims to regain compliance.

Based on that plan, Nasdaq granted an extension, giving the company until February 17, 2026 to restore stockholders’ equity to the required level. This keeps the shares and tradable warrants listed for now, but the company explicitly acknowledges there is no assurance it will meet the standard by the deadline.

If compliance is not regained by February 17, 2026, the common stock and tradable warrants become subject to delisting, with the option to appeal to a Nasdaq hearings panel. Actual impact on shareholders will hinge on whether the company can execute the measures in its submitted plan within the extension period.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 7, 2025

BULLFROG AI HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Nevada		001-41600		84-4786155
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

325 Ellington Blvd, Unit 317
Gaithersburg, MD 20878
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (240) 658-6710

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.00001 per share		BFRG		The Nasdaq Stock Market LLC (The Nasdaq Capital Market)
Tradeable Warrants		BFRGW		The Nasdaq Stock Market LLC (The Nasdaq Capital Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Requirement or Standard; Transfer of Listing.

As previously reported, on August 21, 2025, BullFrog AI Holdings, Inc. (the “Company”) received a letter (the “Notice Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the Company’s stockholders’ equity was below $2,500,000, the Company was no longer in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Stockholder Equity Requirement”). In accordance with Nasdaq listing rules, the Company received 45 days to submit a plan to Nasdaq to regain compliance with the Stockholder Equity Requirement. The Company submitted its compliance plan in late September 2025.

Thereafter, on October 7, 2025, the Company received a letter (the “Extension Letter”) from Nasdaq informing the Company that, based on the Company’s plan, the Company was granted an extension of time to regain compliance with the Stockholder Equity Requirement. In accordance with the Extension Letter, the Company now has 180 calendar days from the date of the Notice Letter, or until February 17, 2026, to regain compliance with the Stockholder Equity Requirement.

If the Company does not regain compliance with the Stockholder Equity Requirement by the end of this compliance period, the Company’s common stock and tradable warrants will become subject to delisting. In the event that the Company receives notice that its common stock and tradable warrants are being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Nasdaq’s staff to a Nasdaq hearings panel. The Company intends to continue to take all reasonable measures in accordance with its plan submitted to Nasdaq in order to regain compliance with the Nasdaq listing rules. There can, however, be no assurance that the Company will be able to regain compliance by the deadline.

Cautionary Note regarding Forward-Looking Statements

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are intended to qualify for the safe harbor from liability established thereunder. Such forward-looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company’s control, and that may cause results to differ materially from expectations. Examples of forward-looking statements include, among others, statements regarding the Company’s ability to regain compliance with Nasdaq rules. The forward-looking statements made in this report speak only as of the date of this report, and the Company assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are being furnished herein:

Exhibit No.		Description
104		Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 9, 2025	BullFrog AI Holdings, Inc.
	By:	/s/ Vininder Singh
	Name:	Vininder Singh
	Title:	Chief Executive Officer

FAQ

Why did BullFrog AI Holdings, Inc. (BFRG) receive a Nasdaq deficiency notice?

BullFrog AI Holdings, Inc. received a deficiency notice from Nasdaq on August 21, 2025 because its stockholders’ equity was below $2,500,000, the minimum required by Nasdaq Listing Rule 5550(b)(1).

What extension did BullFrog AI (BFRG) receive from Nasdaq on its listing compliance?

After submitting a compliance plan in late September 2025, BullFrog AI received an extension letter from Nasdaq on October 7, 2025, granting the company until February 17, 2026 to regain compliance with the stockholder equity requirement.

What happens if BullFrog AI does not regain Nasdaq equity compliance by February 17, 2026?

If BullFrog AI does not regain compliance with Nasdaq’s stockholder equity requirement by February 17, 2026, its common stock and tradable warrants may become subject to delisting from the Nasdaq Capital Market, though the company could appeal to a Nasdaq hearings panel.

Is BullFrog AI planning actions to regain Nasdaq listing compliance?

BullFrog AI states that it intends to continue to take reasonable measures in line with its plan submitted to Nasdaq to regain compliance with the listing rules, but it also notes there can be no assurance that it will succeed by the deadline.

Which BullFrog AI securities are at risk if Nasdaq delists the company?

If the company fails to regain compliance, its common stock and tradable warrants listed on the Nasdaq Capital Market would be subject to potential delisting under Nasdaq rules.