Street Calls of the Week
Stockholders of BullFrog AI Holdings, Inc. (NASDAQ:BFRG), a micro-cap company with a market value of $14.66 million, approved several proposals at a special meeting held Wednesday. According to a statement based on a recent SEC filing, approximately 56% of outstanding shares were represented at the meeting. InvestingPro analysis indicates the company maintains a WEAK financial health score, with the stock down 26.5% year-to-date.
Shareholders voted in favor of authorizing the issuance of 20% or more of the company’s outstanding common stock under a purchase agreement with Lincoln Park Capital Fund, LLC. The vote count was 2,960,000 for, 437,777 against, 4,109 withheld, and 2,340,353 broker non-votes.
A proposal to approve a reverse stock split of BullFrog AI’s common stock was also passed. The approved reverse split will be at a ratio of not less than 1-for-2 and not more than 1-for-15, with the exact ratio to be determined by the board of directors. The votes for this measure were 4,088,004 in favor, 1,611,730 against, and 42,505 abstentions.
In addition, stockholders approved an amendment to the company’s 2022 Equity Incentive Plan to increase the number of shares available for issuance by 750,000, prior to the effect of the reverse stock split. The vote was 2,970,690 for, 418,690 against, 12,506 withheld, and 2,340,353 broker non-votes.
A fourth proposal to adjourn the meeting, if necessary to solicit additional proxies, was not voted upon because sufficient votes were received on the other proposals.
BullFrog AI Holdings’ common stock and tradeable warrants are listed on The Nasdaq Capital Market under the symbols BFRG and BFRGW, respectively.
The information in this article is based on a press release statement and the company’s SEC filing.
In other recent news, BullFrog AI Holdings, Inc. has made several corporate changes following its annual meeting of stockholders. The company amended its bylaws to reduce the quorum required for stockholder meetings to 33.33% of outstanding shares, with this change set to take effect on September 18, 2025. During the meeting, 5,999,172 shares were present or represented by proxy, which accounted for about 59.50% of all shares eligible to vote. Stockholders also voted on the election of four directors for one-year terms. These developments were detailed in a statement based on a recent SEC filing.
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