Why Bone Biologics Stock (BBLG) Is Falling Sharply
Portfolio Pulse from Henry Khederian
Bone Biologics Corp (NASDAQ:BBLG) stock fell by 12% to $0.54 due to a public offering and private placement of over a million shares at $0.64 each, with additional unregistered warrants. H.C. Wainwright & Co. is managing the offering, expected to raise approximately $729,200 for clinical trials, patent expansion, and operational needs. The offering is set to close around November 20, with warrants exercisable at $0.52 for five and a half years. BBLG's 52-week range is $0.47 to $13.21.
November 20, 2023 | 4:06 pm
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Bone Biologics Corp's stock price declined following the announcement of a public offering and private placement at a price below the current trading level, along with warrants exercisable at $0.52.
The stock price decline is likely due to the dilutive effect of the new share offering and warrants, which are priced below the current trading price, indicating a potential short-term negative impact on the stock value.
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IMPORTANCE 85
RELEVANCE 100