Bone Biologics 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.
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.
The company is undertaking work with select strategic partners, building on research on the Nell-1 protein that has produced a significant number of studies and publications in peer-reviewed scientific literature. Bone Biologics is currently focusing its development efforts for its bone graft substitute product on bone regeneration in spinal fusion and has rights to trauma and osteoporosis applications.
Source: Bone Biologics