Bone Biologics Corp BBLG shares are trading lower by 12% to $0.54 Monday morning on downward momentum after the company last week announced it's conducting a public offering and private placement to sell over a million shares of its common stock at $0.64 each, alongside unregistered warrants to purchase more shares.
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H.C. Wainwright & Co. is overseeing the offering, which is expected to generate around $729,200. The funds will be used for clinical trials, expanding patents, and general operational requirements.
The offering should finalize by around November 20, pending standard conditions. Warrants, priced at $0.52 per share, can be exercised for five and a half years after issuance.
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According to data from Benzinga Pro, BBLG has a 52-week high of $13.21 and a 52-week low of $0.47.
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