Bone Biologics Prices $5,100,000 Million Underwritten Public Offering
October 07 2022 - 8:00AM
Business Wire
Bone Biologics Corporation (NASDAQ: BBLG), a
developer of orthobiologic products for spine fusion markets,
announces the pricing of an underwritten public offering of
3,777,778 units of securities at an offering price of $1.35 per
unit, for total gross proceeds of $5,100,000 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses.
Each unit consists of: (i) one share of common stock; (ii) one
Series A warrant to purchase one share of common stock at an
exercise price equal to $1.62 per share; (iii) one Series B warrant
to purchase one share of common stock at an exercise price equal to
$1.35 per share; and (iv) one Series C warrant, to purchase one
share of common stock at an exercise price equal to $2.16 per
share. The Series C warrant can be exercised via cashless exercise
upon the earlier of 15 days from the warrant issuance date or the
time when $10 million of volume is traded in the common shares. The
shares of common stock and the Purchase Warrants are immediately
separable and will be issued separately, but will be purchased
together in this offering. The warrants expire five years from the
date of issuance.
In addition, Bone Biologics has granted the underwriters a
45-day option to purchase up to 566,666 additional shares of common
stock and/or 566,666 additional warrants, or any combination
thereof, to cover over-allotments in this offering, if any. The
offering is expected to close on or about October 11, 2022, subject
to customary closing conditions.
WallachBeth Capital, LLC is acting as the sole book-running
manager for the offering.
This offering is being made pursuant to an effective
registration statement on Form S-1 (No. 333-267588) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on October 6, 2022. A final
prospectus describing the terms of the proposed offering will be
filed with the SEC and may be obtained, when available, via the
SEC's website at www.sec.gov or from WallachBeth Capital, LLC, via
email at cap-mkts@wallachbeth.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
About Bone Biologics
Bone Biologics was founded to pursue regenerative medicine for
bone. The Company is undertaking groundbreaking work with select
strategic partners, that build on the preclinical research of the
Nell-1 protein. Bone Biologics is currently focusing its
development efforts for its bone graft substitute product on bone
regeneration in spinal fusion procedures, while additionally having
rights to trauma and osteoporosis applications. For more
information, please visit www.bonebiologics.com.
Forward-looking Statements
Certain statements contained in this press release, including,
without limitation, statements containing the words ‘'believes,''
"anticipates," "expects" and words of similar import, constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve both known and unknown risks and uncertainties.
The Company's actual results may differ materially from those
anticipated in its forward-looking statements as a result of a
number of factors, including those including the Company's ability
to develop our lead product NELL-1 and other proposed products, its
ability to obtain patent protection for its technology, its ability
to obtain the necessary financing to develop products and conduct
the necessary clinical testing, its ability to obtain Federal Food
and Drug Administration approval to market any product it may
develop in the United States and to obtain any other regulatory
approval necessary to market any product in other countries, its
ability to market any product it may develop, its ability to
create, sustain, manage or forecast its growth; its ability to
attract and retain key personnel; changes in the Company's business
strategy or development plans; competition; business disruptions;
adverse publicity and international, national and local general
economic and market conditions and risks generally associated with
an undercapitalized developing company, as well as the risks
contained under "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in the
Company's Form S-1, Form 10-K for the year ended December 31, 2021
and the Company's other filings with the Securities and Exchange
Commission. Except as required by applicable law, we undertake no
obligation to revise or update any forward-looking statements to
reflect any event or circumstance that may arise after the date
hereof.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221007005141/en/
LHA Investor Relations Kim Sutton Golodetz 212-838-3777
kgolodetz@lhai.com
Bone Biologics (NASDAQ:BBLG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bone Biologics (NASDAQ:BBLG)
Historical Stock Chart
From Apr 2023 to Apr 2024