CORRECTING and REPLACING Bone Biologics Prices $5,100,000 Underwritten Public Offering
October 07 2022 - 10:52AM
Business Wire
Reissuing release to remove "million" after "$5,100,000" in the
headline and first sentence of the text.
The updated release reads:
BONE BIOLOGICS PRICES $5,100,000
UNDERWRITTEN PUBLIC OFFERING
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, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20221007005141/en/
LHA Investor Relations Kim Sutton Golodetz 212-838-3777
kgolodetz@lhai.com
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