Bone Biologics Announces Exercise of Warrants for $2.1 Million Gross Proceeds
2024年8月2日 - 9:00PM
ビジネスワイヤ(英語)
Bone Biologics Corporation (“Bone Biologics” or the
“Company”) (Nasdaq: BBLG, BBLGW), a developer of orthobiologic
products for spine fusion markets, today announced that it has
entered into a definitive agreement for the exercise of certain
existing warrants to purchase an aggregate of 781,251 shares of its
common stock having an exercise price of $2.43 per share,
originally issued in March 2024. The issuance of the shares of
common stock issuable upon exercise of the existing warrants is
registered pursuant to an effective registration statement on Form
S-1 (File No. 333-276771).
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
In consideration for the immediate exercise of the existing
warrants for cash and the payment of $0.125 per new warrant, the
Company will issue new unregistered warrants to purchase up to an
aggregate of 1,562,502 shares of common stock (the “new warrants”).
The new warrants will be immediately exercisable at an exercise
price of $2.00 per share. New warrants to purchase 781,251 shares
of common stock will have a term of five years from the issuance
date, and new warrants to purchase 781,251 shares of common stock
will have a term of eighteen months from the issuance date.
The offering is expected to close on or about August 2, 2024,
subject to satisfaction of customary closing conditions. The gross
proceeds to the Company from the exercise of the existing warrants
and the issuance of new warrants are expected to be approximately
$2.1 million, prior to deducting placement agent fees and estimated
offering expenses payable by the Company. The Company 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.
The new warrants described above are being offered in a private
placement under Section 4(a)(2) of the Securities Act of 1933, as
amended (the “Securities Act”), and Regulation D promulgated
thereunder and, along with the shares of common stock issuable upon
exercise of the new warrants, have not been registered under the
Securities Act, or applicable state securities laws. Accordingly,
the new warrants issued in the private placement and the shares of
common stock underlying the new warrants may not be offered or sold
in the United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws. The Company has agreed to file a registration
statement with the Securities and Exchange Commission covering the
resale of the shares of common stock issuable upon the exercise of
the new warrants.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other 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 focusing 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 regarding the completion of the
offering, the satisfaction of customary closing conditions related
to the offering and the intended use of proceeds therefrom, as well
as the timing, implementation, and success of the Company’s pilot
clinical study, the ability of the Company’s lead product candidate
NB1 to provide rapid, specific and guided control over bone
regeneration and show fusion success in humans, the ability of NB1
to compete in global markets, as well as statements containing the
words “will,” “expect,” “intend,” “may,” 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 contained in its forward-looking statements as a result
of a number of factors, including, but not limited to, market and
other 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
Annual Report on Form 10-K for the year ended December 31, 2023 and
the Company’s other filings with the Securities and Exchange
Commission. Except as required by applicable law, the Company
undertakes 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/20240802380560/en/
LHA Investor Relations Kim Sutton Golodetz 212-838-3777
kgolodetz@lhai.com
Bone Biologics (NASDAQ:BBLG)
過去 株価チャート
から 8 2024 まで 9 2024
Bone Biologics (NASDAQ:BBLG)
過去 株価チャート
から 9 2023 まで 9 2024