Bone Biologics Prices $7.9M Public Offering

Bone Biologics Corp., a developer of orthobiologic products for spine fusion markets, today announced the pricing of its underwritten public offering of 1,510,455 units of securities at an offering price of $5.25 per unit, for total gross proceeds of $7.9 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Each unit consists of one share of common stock and one warrant to purchase one share of common stock and will be issued separately. The warrants underlying the units are immediately exercisable for one share of common stock at an exercise price of $6.30 per share and expire 5 years from the date of issuance. In addition, Bone Biologics has granted the underwriters a 45-day option to purchase up to 226,568 additional shares of common stock and/or 226,568 additional warrants, or any combination thereof, to cover over-allotments in this offering, if any. The offering is expected to close on or about October 15, 2021, subject to customary closing conditions.
 
Bone Biologics’ common stock and warrants will begin trading on the Nasdaq Capital Market on October 13, 2021, under the symbols “BBLG” and “BBLGW,” respectively. In connection with the offering, the Company effectuated a reverse split of its issued and outstanding common stock at a ratio of 1-for-2.5. The reverse stock split became effective at 4:00 pm Eastern Time on Tuesday, October 12, 2021. The share numbers and pricing information in this release are adjusted to reflect the impact of the reverse stock split.
 
WallachBeth Capital, 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. 333-257484) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on October 12, 2021.