JERSEY
CITY, N.J., Oct. 7, 2022
/PRNewswire/ -- WallachBeth Capital LLC, a leading provider of
capital markets and institutional execution services, announced
today that Bone Biologics Corporation (NASDAQ: BBLG), a developer
of orthobiologic products for spine fusion, announced the pricing
of an underwritten public offering of 3,777,778 units at an
offering price of $1.35 per unit, for
total gross proceeds of $5,100,000
before deducting underwriting discounts and commissions and other
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 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.
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.
About WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions, creating value for
both issuers and investors. The firm's experience includes initial
public offerings, follow-on issues, PIPE offerings, and private
transactions. WallachBeth Capital is a leading provider of
institutional execution services, offering clients a full spectrum
of solutions to help them navigate increasingly complex markets.
The firm's website is located at www.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.
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SOURCE WallachBeth Capital LLC