Bone Biologics Announces 1-for-6 Reverse Stock Split
BURLINGTON, Mass.--(BUSINESS WIRE)-- Bone Biologics Corporation ('Bone Biologics' or the 'Company') (Nasdaq: BBLG, BBLGW), a developer of orthobiologic products for spine fusion markets, today announced a planned reverse stock split of its shares of common stock at a ratio of 1-for-6. The reverse stock split will take effect as of 12:01 a.m. ET, on Tuesday, June 10, 2025, and shares of Bone Biologics are expected to trade on a post-split basis on Nasdaq under the existing trading symbol, 'BBLG,' at the market open on June 10, 2025.
At the Company's annual meeting of stockholders held on May 30, 2025, stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to implement a reverse stock split in a range of 1-for-2.5 to 1-for-10, and granted the board of directors the authority to implement and determine the exact split ratio within such range, which was subsequently set by the board at 1-for-6. Following the reverse stock split, the new CUSIP number of the common stock will be 098070600, with the par value per share of common stock remaining at $0.001. A proportionate adjustment will be made to the per-share exercise prices and number of shares issuable under all outstanding warrants and equity awards.
When the reverse stock split becomes effective, every six shares of the Company's issued and outstanding common stock will be combined into one share of common stock. Each stockholder's percentage ownership interest in Bone Biologics will remain unchanged after the reverse stock split. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. The number of authorized shares of common stock of the Company will remain the same following the reverse stock split.
About Bone Biologics
Bone Biologics was founded to pursue regenerative medicine for bone. The Company is undertaking work with select strategic partners that builds on the preclinical research of the Nell-1 protein. Bone Biologics is focusing development efforts for its bone graft substitute product on bone regeneration in spinal fusion procedures, while additionally having rights to trauma and osteoporosis applications. For more information, please visit www.bonebiologics.com.
Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements regarding the timing, implementation, and success of the reverse stock split, as well as statements containing the words 'plan,' 'will,' and words of similar import, constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including, but not limited to, market and other conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.
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/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ TORONTO, June 9, 2025 /CNW/ - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has entered into an agreement with Stifel Nicolaus Canada Inc. ("Stifel Canada") to act as lead agent and bookrunner on behalf of a syndicate of agents (collectively, the "Agents") in connection with a "best efforts" agency basis private placement (the "Offering") for the sale of up to 18,182,000 Units of the Company at a price of C$0.55 per Unit (the "Offering Price") for gross proceeds to the Company of up to C$10,000,100. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company at a price of CA$0.66 per common share at any time on or before that date which is 60 months after the closing date. It is anticipated that the closing of the Offering will occur on or prior to June 19, 2025. The Units will be offered to purchasers by way of the "listed issuer financing" exemption under Part 5A (the "LIFE Exemption") of National Instrument 45-106 – Prospectus Exemptions ("NI 45-106") in all the provinces of Canada other than Québec. Upon closing of the Offering, the Units are expected to be immediately freely tradeable under applicable Canadian securities legislation. The Company will grant to the Agents an option, exercisable up to three business days prior to the closing date, to purchase for resale up to an additional 15% of Units at the Offering Price for additional gross proceeds of up to C$1,500,015. 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As the number of securities issuable in the Offering (calculated on a fully diluted basis) is more than 25% of the total number of the current total number of issued and outstanding common shares (the "Outstanding Shares") and the Offering Price is less than the closing price of the common shares on the day preceding the Company's price reservation, to proceed with the Offering the Company requires approval from shareholders representing a majority of the Outstanding Shares held by disinterested shareholders. The Company intends to satisfy Cboe Canada's shareholder approval requirement by obtaining a written resolution approving the Offering from the holders of at least 50% of the Outstanding Shares entitled to vote thereon. There is an offering document related to the Offering that can be accessed under the Company's profile at and at the Company's website at Prospective investors should read this offering document before making an investment decision. No U.S. Offering or Registration This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. About Denarius Metals Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF". In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain. 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