Bone Biologics Announces Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

About this update from Bone Biologics Corp

[{"type":"text","content":" BURLINGTON, Mass.--(BUSINESS WIRE)--\nBone Biologics Corporation (NASDAQ: BBLG), a developer of orthobiologic products for spine fusion markets, today announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 1,139,063 of its shares of common stock at a purchase price of $0.64 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the company has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 1,139,063 shares of its common stock. The offering is expected to close on or about November 20, 2023, subject to the satisfaction of customary closing conditions.\n\n\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\n\n\nThe unregistered warrants will have an exercise price $0.52 per share, will become exercisable upon issuance and have a term of five and one-half years from the date of issuance.\n\n\nThe gross proceeds to Bone Biologics from the offering are expected to be approximately $729,200, before deducting the placement agent’s fees and other offering expenses payable by the Company. Bone Biologics currently intends to use the net proceeds from the offering to fund clinical trials, maintain and extend its patent portfolio and for working capital and other general corporate purposes.\n\n\nThe shares of common stock offered in the registered direct offering (but excluding the unregistered warrants offered in the concurrent private placement and the shares of common stock underlying such unregistered warrants) are being offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-265872), including a base prospectus, previously filed with the Securities and Exchange Commission (SEC) on June 28, 2022 and declared effective by the SEC on July 11, 2022. The offering of the shares of common stock to be issued in the registered direct offering are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and ac...

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