Bone Biologics Corp (BBLG)

Bone Biologics Corp (BBLG) stock dropped by 24.67% due to specific corporate actions taken by Bone Biologics of a 1-for-8 stock reverse split and a direct offering. Here are details of these factors:

• Reverse Split: On December 20, Bone Biologics carried out a 1-for-8 reverse split of its common stock. This reverse split consolidated every 8 shares of common stock into 1 share, resulting in a reduced number of outstanding shares and a proportionate adjustment in the stock's trading price. Reverse splits are typically undertaken by companies for reasons such as meeting exchange listing requirements or adjusting stock prices.
• Direct Offering: Furthermore, Bone Biologics announced the completion of a direct offering on November 20. In this offering, the company issued 1,139,063 shares of common stock at a purchase price of $0.64 per share. Direct offerings allow companies to raise capital by selling shares of stock directly to investors, often at a negotiated price. The combination of the reverse split and the direct offering may have influenced investor sentiment and contributed to the decline in Bone Biologics Corp (BBLG) stock price. These actions can impact a company's capital structure and may lead to fluctuations in stock price as investors reassess their positions and outlook for the company.

Bone Biologics Corporation Stock (BBLG) dropped by 21.79% from $0.78 to $0.61 in the trading on Friday November 17, 2023. The reason why BBLG stock down today is due to the announcement of direct offering. The company announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 1,139,063 of its shares of common stock at a purchase price of $0.64 per share in a registered direct offering. The offering is expected to close on or about November 20, 2023.