false 0001419554 0001419554 2024-01-10 2024-01-10 0001419554 BBLG:CommonStockParValue0.001PerShareMember 2024-01-10 2024-01-10 0001419554 BBLG:WarrantsToPurchaseCommonStockParValue0.001PerShareMember 2024-01-10 2024-01-10 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 10, 2024

 

 

 

BONE BIOLOGICS CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-40899   42-1743430

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

2 Burlington Woods Drive, Ste. 100

Burlington, MA

  01803
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (781) 552-4452

 

 

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.001 per share   BBLG   Nasdaq Capital Market
         
Warrants to Purchase Common Stock, par value $0.001 per share   BBLGW   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 
 

 

Item 8.01 Other Events.

 

On January 10, 2024, Bone Biologics Corporation (the “Company”) entered into a Settlement Agreement and Mutual General Release (the “Agreement”) with Drs. Bessie (Chia) Soo and Kang (Eric) Ting, on the one hand (the “plaintiffs”), and Stephen LaNeve on the other hand (together with the Company, the “defendants”), in settlement of the claims for breach of contract and tortious interference with contract against the defendants filed in the United States District Court for the District of Massachusetts (the “Court”) as previously described in the Company’s periodic reports under the Securities Exchange Act of 1934, as amended. The Agreement is effective as of January 9, 2024. The Company believes that a settlement of the claim is in the best interests of the Company and its stockholders after considering the facts and circumstances surrounding the proposed settlement, including: (i) the strengths and weaknesses of the claims asserted by plaintiffs and the defendants’ defenses; (ii) the potential recovery from the claims asserted; (iii) the time, expense, risks, and uncertainties of continued litigation; (iv) the effect on the Company of continued litigation; and (v) the anticipated benefits that the proposed settlement affords the Company.

 

The Company had certain indemnification obligations to Mr. LaNeve arising out of actions taken in connection with his service to the Company. Under the Agreement, the Company will pay the plaintiffs $750,000 in cash within 20 business days after the date the Agreement was executed. The Company’s insurance carrier’s portion of the claim is $400,000 less certain retention amounts. The Agreement provides that the parties to the Agreement will file a joint stipulation to dismiss the action with prejudice with the Court and the Company expects the action to be dismissed by the Court.

 

Forward Looking Statements

 

Except for the factual statements made herein, information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as “anticipate,” “believe,” “expect,” “potential,” “will,” and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will experience the anticipated benefits from the Agreement. The risks included are not exhaustive; for a more detailed description of these uncertainties and other factors, see the other risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission, copies of which are available for free at www.sec.gov or upon request from the Company’s Investor Relations Department. All information provided in this release is as of the date hereof and the Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  BONE BIOLOGICS CORPORATION
   
Date: January 12, 2024  
  By: /s/ Jeffrey Frelick
    Jeffrey Frelick
    Chief Executive Officer

 

 

v3.23.4
Cover
Jan. 10, 2024
Document Type 8-K
Amendment Flag false
Document Period End Date Jan. 10, 2024
Entity File Number 001-40899
Entity Registrant Name BONE BIOLOGICS CORPORATION
Entity Central Index Key 0001419554
Entity Tax Identification Number 42-1743430
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 2 Burlington Woods Drive
Entity Address, Address Line Two Ste. 100
Entity Address, City or Town Burlington
Entity Address, State or Province MA
Entity Address, Postal Zip Code 01803
City Area Code (781)
Local Phone Number 552-4452
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock Par Value 0. 001 Per Share [Member]  
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol BBLG
Security Exchange Name NASDAQ
Warrants To Purchase Common Stock Par Value 0. 001 Per Share [Member]  
Title of 12(b) Security Warrants to Purchase Common Stock, par value $0.001 per share
Trading Symbol BBLGW
Security Exchange Name NASDAQ

Bone Biologics (NASDAQ:BBLG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Bone Biologics Charts.
Bone Biologics (NASDAQ:BBLG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Bone Biologics Charts.