Full Press Release Details
Biologics Announces Pricing of $2.0 Million Public Offering
Mass., March 4, 2024-Bone Biologics Corporation ("Bone Biologics" or the "Company") (Nasdaq: BBLG, BBLGW),
a developer of orthobiologic products for spine fusion markets, today announced the pricing of its public offering of an aggregate of
781,251 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 781,251 shares of common
stock, at a public offering price of $2.56 per share (or common stock equivalent in lieu thereof) and accompanying warrant. The warrants
will have an exercise price of $2.43 per share, will be exercisable immediately upon issuance and will expire five years after the date
of issuance. The closing of the offering is expected to occur on or about March 6, 2024, subject to the satisfaction of customary closing
Wainwright & Co. is acting as the exclusive placement agent for the offering.
gross proceeds to the Company from the offering, before deducting the placement agent's fees and other offering expenses, are expected
to be approximately $2.0 million. The Company intends to use the net proceeds from this offering to fund clinical trials, maintain and
extend its patent portfolio, and for working capital and other general corporate purposes.
securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-276771), which was declared
effective by the Securities and Exchange Commission (the "SEC") on March 4, 2024. The offering is being made only by means
of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the
offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final
prospectus, when available, may be obtained on the SEC's website at http://www.sec.gov and may also be obtained, when available,
by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail
press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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.
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.
press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include all statements, other than
statements of historical fact, regarding the Company's current views and assumptions with respect to future events regarding its
business, including statements with respect to its plans, assumptions, expectations, beliefs and objectives with respect to the completion
of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering,
product development, clinical studies, clinical and regulatory timelines, market opportunity, competitive position, business strategies,
potential growth opportunities, market and other conditions and other statements that are predictive in nature.
statements are generally identified by the use of such words as "may," "would," "expect," "intend,"
"plan," "will," "potential" and similar statements of a future or forward-looking nature. Readers
are cautioned that any forward-looking information provided by the Company or on its behalf is not a guarantee of future performance.
Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed
in filings with the SEC, including the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with
the SEC on February 21, 2024 and the preliminary prospectus filed with the SEC in connection with the public offering. All forward-looking
statements speak only as of the date on which they are made, and the Company undertakes no duty to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except to the extent required by law.