Bone Biologics (NASDAQ: BBLG), a developer of orthobiologic products for spine fusion markets, recently announced the pricing of an underwritten public offering of common stock. The company is selling 2,538,071 shares of its common stock in the offering, each at a price to the public of $1.97, for aggregate gross proceeds of approximately $5.0 million. In addition, Bone Biologics has granted the underwriters an over-allotment option, exercisable for a period of 45 days from the date of the underwriting agreement for the offering, to purchase up to an additional 253,807 common shares. Subject to customary conditions, the offering was expected to close on or about June 16, 2023. EF Hutton, division of Benchmark Investments LLC, acted as the sole book-running manager for the offering.
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About Bone Biologics Corporation
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 currently focusing its development efforts for its bone graft substitute product on bone regeneration in spinal fusion procedures, while additionally having rights to trauma and osteoporosis applications.
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