Bone Biologics Prices $5.0 Million Underwritten Public Offering
June 14 2023 - 11:30PM
Business Wire
Bone Biologics Corporation (NASDAQ: BBLG) (“Bone Biologics”
or the “Company”), a developer of orthobiologic products for
spine fusion markets, today announced the pricing of an
underwritten public offering of common stock. Bone Biologics is
selling 2,538,071 shares of its common stock in the offering. The
shares of common stock are being sold at a price to the public of
$1.97 per share, for aggregate gross proceeds of approximately $5.0
million, before deducting underwriting discounts and offering
expenses. In addition, the Company has granted the underwriters an
over-allotment option, exercisable for a period of 45 days from the
date of the underwriting agreement for the offering, to purchase up
to an additional 253,807 Common Shares. The offering is expected to
close on or about June 16, 2023, subject to customary closing
conditions.
EF Hutton, division of Benchmark Investments, 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. 333-271558) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on June 14, 2023. Copies of the
preliminary prospectus and, when available, copies of the final
prospectus relating to the offering may be obtained at the SEC’s
website at www.sec.gov or from EF Hutton, division of Benchmark
Investments, LLC, Attention: Syndicate Department, 590 Madison
Avenue, 39th Floor, New York, NY 10022, by email at
syndicate@efhuttongroup.com, or by telephone at (212) 404-7002.
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 work with select strategic
partners that builds 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, 2022
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/20230614987278/en/
LHA Investor Relations Kim Sutton Golodetz 212-838-3777
kgolodetz@lhai.com
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