Bone Biologics announces closing of registered direct offering

Bone Biologics announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 1,139,063 of its shares of common stock at a purchase price of 64c per share. In a concurrent private placement, the company also issued and sold unregistered warrants to purchase up to an aggregate of 1,139,063 shares of its common stock. The unregistered warrants have an exercise price of 52c per share and are exercisable upon issuance and have a term of five and one-half years from the date of issuance. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds to Bone Biologics from the offering were approximately $729,000, before deducting the placement agent’s fees and other offering expenses payable by the company. Bone Biologics currently 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.