On February 12, 2021 Caladrius Biosciences, Inc. (Nasdaq: CLBS) ("Caladrius" or the "Company"), a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse disease, reported that it has entered into securities purchase agreements with several institutional investors to purchase an aggregate of 24,906,134 shares of its common stock and warrants to purchase up to an aggregate of 12,453,067 shares of common stock at a purchase price of $2.45 per share of common stock and associated warrant in a registered direct offering priced at-the-market under Nasdaq rules (Press release, Caladrius Biosciences, FEB 12, 2021, View Source [SID1234575130]). The warrants have an exercise price of $2.90 per share, will be immediately exercisable, and will expire five years from the issuance date. The registered direct offering is expected to close on or about February 17, 2021, subject to the satisfaction of customary closing conditions.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering to the institutional investors.

In addition, the Company also announced that it entered into a securities purchase agreement with certain accredited investors to purchase an aggregate of 1,632,652 shares of its common stock and warrants to purchase up to an aggregate of 816,326 shares of common stock in a non-brokered registered direct offering on the same terms as above. Such registered direct offering is also expected to close on or about February 17, 2021, subject to the satisfaction of customary closing conditions.
The gross proceeds from the registered direct offerings are expected to be approximately $65 million before deducting placement agent fees and other offering expenses. The Company currently intends to use the net proceeds from the offering for working capital and general corporate purposes, including the advancement of its CD34+ technology-based clinical programs.

The securities described above are being offered pursuant to a "shelf" registration statement (File No. 333-226319) filed with the Securities and Exchange Commission (SEC) and declared effective on August 2, 2018. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to each of the offerings of the securities will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering of the securities to the institutional investors may be obtained, when available, on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: [email protected] or by telephone: (646) 975-6996.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.