Biorestorative Therapies, Inc. (BRTX) Prices 2.3M Offering $10/sh

BioRestorative Therapies, Inc. (NASDAQ: BRTX), a life sciences company focused on adult stem cell-based therapies, today 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 will become listed on the Nasdaq Capital Market and will trade under the ticker symbol “BRTX” beginning November 5, 2021. The offering is expected to close on or about November 9, 2021, subject to customary closing conditions. 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 is acting as sole manager for the offering.

“BioRestorative Therapies’ advancement to The Nasdaq Capital Market continues a year of growth and accomplishment for our company during which time we emerged from Chapter 11 reorganization, transformed our business, strengthened our financial position and enhanced our IP position” said Lance Alstodt, President and Chief Executive Officer of BioRestorative.

The securities described above are being sold by BioRestorative Therapies pursuant to a registration statement on Form S-1 (Registration No. 333-258611) that was previously filed by BioRestorative Therapies with the Securities and Exchange Commission (the “SEC”) and declared effective on November 4, 2021 and an additional registration statement filed pursuant to Rule 462(b), which became effective upon filing. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of the written prospectus forming part of the effective registration statement. Electronic copies of the accompanying prospectus may be obtained, when available, by contacting Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147, or email at [email protected], or by visiting the SEC’s website at http://www.sec.gov.D

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