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Bone Biologics Prices $5.0 Million Underwritten Public Offering
BURLINGTON, Mass.--(BUSINESS WIRE)-- Bone Biologics Corporation (NASDAQ: BBLG) (“Bone Biologics” or the “Company”), a developer of orthobiologic products for
About this update from Bone Biologics Corp
[{"type":"text","content":" BURLINGTON, Mass.--(BUSINESS WIRE)--\nBone 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.\n\n\nEF Hutton, division of Benchmark Investments, LLC is acting as the sole book-running manager for the offering.\n\n\nThis 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 [email protected], or by telephone at (212) 404-7002.\n\n\nThis 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.\n\n\nAbout Bone Biologics\n\n\nBone 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 additio...