WallachBeth Capital announces pricing of Bone Biologics Corp. (NASDAQ: BBLG) $7.9 million Public Offering and Uplisting to the NASDAQ Capital Market

JERSEY CITY, N.J., Oct. 13, 2021 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced the pricing of an underwritten public offering of 1,510,455 units of Bone Biologics (NASDAQ: BBLG) 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. Each unit consists of one share of common stock and one warrant to purchase one share of common stock and will be issued separately. The warrants underlying the units are immediately exercisable for one share of common stock at an exercise price of $6.30 per share and expire 5 years from the date of issuance. 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 to cover over-allotments in this offering.

Bone Biologics' common stock and warrants will begin trading on the Nasdaq Capital Market on October 13, 2021, under the symbols "BBLG" and "BBLGW" respectively.  In connection with the offering, the Company effectuated a reverse split of its issued and outstanding common stock at a ratio of 1-for-2.5.  The reverse stock split became effective at 4:00 pm Eastern Time on Tuesday October 12, 2021. The share numbers and pricing information in this release are adjusted to reflect the impact of the reverse stock split.

WallachBeth Capital, LLC is acting as the sole book-running manager for the offering. The closing of the offering is expected to take place on or about October 15, 2021, subject to customary closing conditions.

About Bone Biologics

Bone Biologics (NASDAQ: BBLG) was founded to pursue regenerative medicine for bone. The Company is undertaking groundbreaking work with select strategic partners, building on unprecedented 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.

About WallachBeth Capital LLC

WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for both issuers and investors. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions. WallachBeth Capital is a leading provider of institutional execution services, offering clients a full spectrum of solutions to help them navigate increasingly complex markets. The firm's website is located at www.wallachbeth.com.

This offering is being made pursuant to an effective registration statement on Form S-1 (Nos. 333-257484 and 333-260209) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on October 12, 2021.  A final prospectus describing the terms of the proposed offering will be filed with the SEC and may be obtained, when available, via the SEC's website at www.sec.gov or from WallachBeth Capital, LLC, via email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

SOURCE WallachBeth Capital LLC