Bone Biologics Corp BBLG shares are trading lower by 38% to $0.48 Friday morning after the company 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.
H.C. Wainwright & Co. is facilitating the offering. The company anticipates gross proceeds of about $729,200, planning to allocate the funds to clinical trials, expanding its patents, and general operational needs.
The offering is set to close around November 20, subject to customary conditions. The warrants, priced at $0.52 per share, will be exercisable upon issuance for a period of five and a half years.
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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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