BBLG - Bone Biologics prices $5.1M underwritten public offering

• Orthobiologic products company Bone Biologics ( NASDAQ: BBLG ) priced an underwritten public offering of 3.8M units of securities at $1.35 per unit.
• The total gross proceeds stood at $5.1M, before deducting underwriting discounts and commissions and other estimated offering expenses.
• Each unit consists of one share, one series A warrant to purchase one share at an exercise price equal to $1.62 per share, one series B warrant to purchase one share at an exercise price equal to $1.35 per share and one series C warrant to purchase one share at an exercise price equal to $2.16 per share.
• The shares and the warrants are immediately separable and will be issued separately, but will be purchased together in this offering.
• The warrants expire five years from the date of issuance.
• Additionally, the underwriters are granted a 45-day option to purchase up to 566,666 additional shares and/or 566,666 additional warrants.
• The offering is expected to close on or about Oct. 11.
• BBLG shares were trading -26.73% pre-market.
• Source: Press Release

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