Bone Biologics (Nasdaq:BBLG) announced today that it priced an underwritten public offering worth $51. million.
The offering includes nearly 3.8 million units of securities. Each unit costs $1.35. The gross proceeds total $5.1 million before deducting underwriting discounts and commissions, plus other offering expenses.
Each unit features one share of common stock. They also include one Series A warrant to purchase one share of common stock at $1.62 per share. The units also have one Series B warrant and one Series C warrant. With the Series B warrant, the purchaser can buy one share of common stock at $1.35. The Series C warrant allows them to purchase one share of common stock at $2.16.
Additionally, purchasers can exercise the Series C warrant through cashless exercise. This can be done upon the earlier of 15 days from the warrant issuance date. It can also take place at the time when $10 million in volume is traded in the common shares.
Bone B…