Bellerophon Announces Closing of $7 Million Public Offering of Common Stock

Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) ("Bellerophon" or the "Company"), a clinical-stage biotherapeutics company, today announced the closing and funding of its previously announced underwritten public offering of 10,000,000 shares of its common stock at a public offering price of $0.70 per share, less underwriting discounts and commissions. The Company has also granted the underwriter a 45-day option to purchase up to an additional 1,500,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The Company's Chairman, Jonathan M. Peacock, and directors Naseem Amin and Ted Wang each purchased shares in the offering.  The gross proceeds from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are $7 million, assuming no exercise of the underwriter's option to purchase additional shares.

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

Bellerophon intends to use the net proceeds from this offering to fund working capital and other general corporate purposes and pursuit of its other research and development efforts.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on July 6, 2018. A final prospectus supplement describing the terms of the offering was filed with the SEC on January 23, 2019, and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.  Offers will be made only by means of a prospectus supplement and the accompanying prospectus, forming a part of the registration statement. 

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