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For more information please contact:
Investment Banking
James Antonopoulos
Managing Director &
Head of Healthcare
Investment Banking
(646) 358-1906
jantonopoulos@roth.com
Aparna Beeram
Vice President
(646) 358-1912
abeeram@roth.com
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com
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Transaction Information
BioRestorative Therapies, Inc. (NASDAQ:BRTX), a life sciences company focused on adult stem cell-based therapies, announced the pricing of the underwritten public offering of 2,300,000 units, each consisting of one share of its common stock and a warrant to purchase one share of its common stock at a per unit price of $10.00. The warrants have a per share exercise price of $10.00, are exercisable immediately, and expire five years from the date of issuance. The aggregate gross proceeds from the offering are expected to total $23 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company and without giving effect to proceeds from any subsequent exercise of warrants.
As a result of the offering, the Company’s common stock became listed on the Nasdaq Capital Market and began trading under the ticker symbol “BRTX” on November 5, 2021. The offering closed on November 9, 2021. In addition, the Company has granted to the underwriters of the offering a 45-day option to purchase up to 345,000 additional shares and/or additional warrants to purchase up to 345,000 shares of common stock to cover over-allotments, if any.
Roth Capital Partners acted as sole manager for the offering
About BioRestorative Therapies, Inc.
BioRestorative Therapies, Inc. develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells. The Company's two core programs, as described below, relate to the treatment of disc/spine disease and metabolic disorders:
Disc/Spine Program (brtxDISC™): The Company's lead cell therapy candidate, BRTX-100, is a product formulated from autologous (or a person’s own) cultured mesenchymal stem cells collected from the patient’s bone marrow. BioRestorative intends that the product will be used for the non-surgical treatment of painful lumbosacral disc disorders. The BRTX-100 production process utilizes proprietary technology and involves collecting a patient’s bone marrow, isolating and culturing stem cells from the bone marrow and cryopreserving the cells. In an outpatient procedure, BRTX-100 is to be injected by a physician into the patient’s damaged disc. The treatment is intended for patients whose pain has not been alleviated by non-invasive procedures and who potentially face the prospect of surgery. The Company has received authorization from the Food and Drug Administration to commence a Phase 2 clinical trial using BRTX-100 to treat persistent lower back pain due to painful degenerative discs.
Metabolic Program (ThermoStem®): The Company is developing a cell-based therapy to target obesity and metabolic disorders using brown adipose (fat) derived stem cells to generate brown adipose tissue (“BAT”). BAT is intended to mimic naturally occurring brown adipose depots that regulate metabolic homeostasis in humans. Initial preclinical research indicates that increased amounts of brown fat in the body may be responsible for additional caloric burning as well as reduced glucose and lipid levels. Researchers have found that people with higher levels of brown fat may have a reduced risk for obesity and diabetes.
For more information, please visit www.Biorestorative.com. (Source: Company Press Release | 11.30.21)
About Roth Capital Partners
Roth Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, Roth provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, Roth is privately-held and employee owned, and maintains offices throughout the U.S. For more information on Roth, please visit www.roth.com.
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Date of Announcement: 12.7.21
The material, information and facts discussed in this announcement other than the information regarding Roth Capital Partners, LLC ("Roth") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of Roth. Copyright 2021.
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