Bellerophon Therapeutics, Inc. Announces $12 Million Public Offering

WARREN, N.J., Nov. 23, 2016 (GLOBE NEWSWIRE) -- Bellerophon Therapeutics, Inc. (Nasdaq:BLPH), a clinical-stage biotherapeutics company, today announced the pricing of a public offering with expected total gross proceeds of approximately $12 million. The offering is expected to close on or about November 29, 2016, subject to satisfaction of customary closing conditions.

The offering was priced at $0.70 per Class A Unit (consisting of one share of our common stock and a warrant to purchase one share of our common stock).  Each warrant will have an exercise price per full share of common stock equal to $0.80, will be immediately exercisable and will expire five years from the date on which such warrant becomes exercisable. 

H.C. Wainwright & Co. is acting as the exclusive placement agent in connection with the offering.

Bellerophon intends to use the net proceeds from the offering for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses and general and administrative expenses.

The securities are being offered pursuant to an effective registration statement on Form S-1 (File No. 333-214230) that was previously filed with the Securities and Exchange Commission (SEC). The securities may be offered only by means of a prospectus. The preliminary prospectus related to the offering has been filed with the SEC and a final prospectus related to the offering will be filed with the SEC on or about November 23, 2016. Copies of the preliminary prospectus and the final prospectus, when available, are on the SEC's website located at  http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., 430 Park Avenue, New York NY 10022, or e-mail placements@hcwco.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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