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

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