BioRestorative Therapies Announces Filing of Registration Statement for Proposed Public Offering

Rhea-AI Summary

BioRestorative Therapies (OTC: BRTX) announced the filing of a registration statement on Form S-1 with the SEC for a proposed underwritten public offering of its securities. The offering's completion depends on the registration's effectiveness and market conditions. If successful, the net proceeds will fund clinical trials for BRTX-100, research and development for the metabolic ThermoStem Program, and general corporate expenses.

Positive

• Potential funding for clinical trials of BRTX-100, enhancing its market position.
• Support for pre-clinical research and development of the ThermoStem Program.
• Funds allocated for general corporate and working capital purposes.

Negative

• The offering could lead to shareholder dilution if new shares are issued.
• Completion of the offering is uncertain and dependent on market conditions.

MELVILLE, N.Y., Aug. 09, 2021 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (“BioRestorative”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed underwritten public offering of its securities. This offering will be subject to the registration statement on Form S-1 becoming effective and subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

The net proceeds from the offering, if completed, will be used to undertake clinical trials with respect to BioRestorative’s lead product candidate, BRTX-100, and its related collection and delivery procedure, for pre-clinical research and development with respect to its metabolic ThermoStem Program, and to provide funds for general corporate and working capital purposes.

This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

CONTACT:
Email: ir@biorestorative.com

FAQ

What is the purpose of BioRestorative's public offering?

The offering aims to raise funds for clinical trials of BRTX-100, research for the ThermoStem Program, and general corporate expenses.

When will the public offering of BioRestorative be completed?

The completion of the offering is subject to market conditions and the SEC's approval of the registration statement.

How might BioRestorative's stock BRTX be affected by the public offering?

The offering may lead to shareholder dilution, which could potentially impact the stock price negatively.

What are the planned uses for the proceeds from the BRTX public offering?

Proceeds will be used for clinical trials, pre-clinical development, and corporate working capital.