SCHEDULE 13G: Empery Asset Management Discloses 9.99% Stake in BullFrog AI Holdings

Empery Asset Management, LP, along with Ryan M. Lane and Martin D. Hoe, has disclosed a 9.99% beneficial ownership stake in BullFrog AI Holdings, Inc., including shares issuable from warrants, as of December 31, 2024.

Summary

• Empery Asset Management, LP, Ryan M. Lane, and Martin D. Hoe (collectively, "Reporting Persons") have filed a Schedule 13G disclosing their beneficial ownership in BullFrog AI Holdings, Inc.
• As of December 31, 2024, the Reporting Persons collectively beneficially own 929,857 shares of BullFrog AI Holdings, Inc. Common Stock.
• This ownership represents 9.99% of the company's outstanding Common Stock.
• The total beneficially owned shares include 194,739 shares issuable upon the exercise of warrants.
• The percentage is calculated based on an aggregate of 9,113,139 shares of Common Stock, which includes 8,713,152 shares outstanding as of November 4, 2024, and an additional 399,987 shares issued from warrant exercises between November 4, 2024, and December 31, 2024.
• A "Blocker" provision in the warrants prevents the Reporting Persons from exercising warrants if it would result in beneficial ownership exceeding 9.99% of the outstanding shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a significant institutional stake by a reputable asset manager is generally a positive signal for a company, indicating investor confidence. The passive nature of the investment (13G filing) and the 'blocker' provision prevent it from being a stronger positive, as it doesn't suggest an activist role or immediate further capital injection.

Positives

• A significant institutional investor, Empery Asset Management, has taken a substantial stake, potentially signaling confidence in BullFrog AI Holdings, Inc.
• The investment is stated to be in the ordinary course of business, not for control, which suggests a passive, long-term investment perspective.

Negatives

• The "Blocker" provision indicates that the Reporting Persons are limited in increasing their stake beyond 9.99% through warrant exercises, which could cap their potential influence or further investment via this mechanism.

Risks

• The "Blocker" provision limits the ability of the Reporting Persons to increase their beneficial ownership beyond 9.99% through warrant exercises, potentially restricting their upside participation from these specific instruments.

Future Outlook

NA

Industry Context

This filing indicates a significant institutional investment in BullFrog AI Holdings, Inc., a company operating in the AI and biotechnology sectors. Such investments can signal growing investor interest in the application of artificial intelligence within healthcare and drug discovery, a trend gaining momentum across the broader industry.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor taking a 9.99% stake could be viewed positively, potentially increasing investor confidence and liquidity.
• Company Management: Awareness of a large, passive institutional holder may influence strategic decisions, though the 13G nature suggests no immediate control intent.

Next Steps

• NA

Key Dates

Recommendation

Keywords

BullFrog AI Holdings, Empery Asset Management, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, Institutional Investment, AI, Biotechnology, Healthcare Technology