BioRestorative Therapies Inc. announced the closing of a public offering involving the issuance of 14,285,715 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 14,285,715 shares of common stock. The warrants have an exercise price of $0.35 per share, are immediately exercisable, and will expire five years from the date of issuance. The offering raised approximately $5.0 million in gross proceeds, which the company intends to use for clinical trials, pre-clinical research and development, its commercial biocosmeceuticals platform, and general corporate purposes.
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