BioRestorative Therapies Announces $2.1 Million Registered Direct Offering

MELVILLE, N.Y., July 11, 2023 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (“BioRestorative”, “BRTX” or the “Company”) (NASDAQ: BRTX), a clinical stage company focused on stem cell-based therapies, today announced it has entered into a definitive agreement with several accredited and institutional investors for the sale of 685,033 shares of the Company’s common stock at an offering price of $3.03 per share in a registered direct offering. The gross proceeds of the offering will be approximately $2.1 million, before deducting placement agent fees and other estimated offering expenses. The closing of the offering is expected to take place on or about July 13, 2023, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of the offering in connection with its clinical trials with respect to its lead cell therapy candidate, BRTX-100, pre-clinical research and development with respect to its metabolic ThermoStem Program and for general corporate purposes and working capital.

Titan Partners Group, a division of American Capital Partners, LLC, is acting as sole placement agent for the offering.

The shares in the offering are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-269631) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on February 14, 2023. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the offering, which will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus may also be obtained, when available, from Titan Partners Group, a division of American Capital Partners, LLC, 7 World Trade Center, 46^th Floor, New York, NY 10007, Telephone: [phone]; Email: [e-mail].

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.

About BioRestorative Therapies, Inc.

BioRestorative Therapies, Inc. (www.biorestorative.com) develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells. Our two core programs, as described below, relate to the treatment of disc/spine disease and metabolic disorders: