other_material
confidence high
sentiment neutral
materiality 0.60
BullFrog AI secures $10M equity line with Lincoln Park Capital
BullFrog AI Holdings, Inc.
- Entered purchase agreement with Lincoln Park Capital Fund for up to $10M of common stock over 36 months.
- Company may sell shares at its discretion from time to time; Lincoln Park obligated to buy subject to conditions.
- Issued 147,682 commitment shares to Lincoln Park as consideration for the facility.
- Exchange cap of 2,048,936 shares (19.99% of outstanding) unless stockholder approval or average price condition met.
- Net proceeds expected for working capital; no short selling by Lincoln Park during term.
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