Bellerophon Therapeutics, Inc. (NASDAQ: BLPH) today announced the pricing of offerings for an aggregate of 3,076,923 shares of its common stock at a public offering price of $13.00 per share (the “Offerings”). The Offerings consisted of an underwritten public offering (the “Underwritten Offering”) of 1,923,077 shares and a registered direct offering (the “Direct Offering”) of 1,153,846 shares to an institutional investor affiliated with a member of the Company’s board of directors. Bellerophon has granted the underwriters of the Underwritten Offering a 30-day option to purchase up to an additional 288,461 shares of common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds to Bellerophon before deducting underwriting discounts, financial advisory fees, commissions and estimated offering expenses payable by Bellerophon, are expected to be approximately $40 million, excluding any exercise of the underwriters’ option to purchase additional shares in connection with the Underwritten Offering.

All securities in the offering are being sold by Bellerophon.

Bellerophon intends to use the net proceeds from the Offerings, together with its current cash and cash equivalents, for funding its ongoing clinical trials, working capital needs and other general corporate purposes.

Jefferies LLC is acting as sole book-running manager for the Underwritten Offering. H.C. Wainwright & Co., LLC is acting as the lead manager for the Underwritten Offering.

The Offerings are expected to close on or about May 21, 2020, in each case subject to the satisfaction of customary closing conditions. The closings of the Offerings are not conditioned upon each other.