Fri, Aug 2, 12:08 PM (88 days ago)
Bone Biologics Corporation reported entering into Inducement Letter Agreements with holders of existing warrants to purchase 781,251 shares of common stock at $2.43 per share. The holders agreed to exercise these warrants for cash, and in return, the company issued new five-year and eighteen-month unregistered warrants to purchase an additional 781,251 shares each at $2.00 per share. The company will file a resale registration statement within 30 days. H.C. Wainwright & Co. served as the exclusive placement agent, earning a 7% cash fee and a 1% management fee, along with warrants to purchase 46,875 shares at $3.35 per share. Gross proceeds are approximately $2.1 million, intended for clinical trials, patent portfolio maintenance, and working capital. The transaction is expected to close on August 2, 2024.