Today's IPO for BullFrog AI Holdings, Inc. (BFRG) IPO opened for trading and immediately halted to the downside. The company priced its initial public offering of 1,297,318 units at a price of $6.50 per unit. Shares last traded at $5.83.
Each unit consists of one share of the Company's common stock, one tradeable warrant to purchase one share of common stock at an exercise price of $7.80 per share, and one non-tradeable warrant to purchase one share of the Company's common stock at an exercise price of $8.125.
WallachBeth Capital, LLC and Kingswood , a division of Kingswood Capital Partners, LLC are Joint Bookrunners and Co- Underwriters for the Offering.
BullFrog AI is a digital technology company using machine learning to usher in a new era of precision medicine. Through its collaborations with leading research institutions, including Johns Hopkins University, and others, BullFrog AI is at the forefront of AI-driven drug development. Using its proprietary bfLEAPâ„¢ Artificial Intelligence platform, BullFrog AI aims to enable the successful development of pharmaceuticals and biologics by predicting which patients will respond to therapies in development. BullFrog AI is deploying bfLEAPâ„¢ for use at several critical stages of development with the intention of streamlining data analytics in therapeutics development, decreasing the overall development costs by decreasing failure rates for new therapeutics, and impacting the lives of countless patients that may have otherwise not received the therapies they need.