JERSEY
CITY, N.J., Oct. 13,
2022 /PRNewswire/ -- WallachBeth Capital LLC, a
leading provider of capital markets and institutional execution
services announced yesterday the closing of Bone Biologics (NASDAQ:
BBLG) previously announced underwritten public offering of units of
securities for total gross proceeds of $5,100,000, before deducting underwriting
discounts and commissions and other estimated offering
expenses.
The offering was comprised of 3,777,778 units of securities at
an offering price of $1.35 per unit,
each unit consisting 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 one (1)
day 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 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.
WallachBeth Capital, LLC acted 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