Caladrius Biosciences, Inc. Closes $65 Million Registered Direct Offerings Priced At-The-Market under Nasdaq Rules
February 17 2021 - 1:59PM
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,
today announced that it has closed on its previously announced sale
to institutional investors of 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. The
warrants have an exercise price of $2.90 per share, are immediately
exercisable, and will expire five years from the issuance date.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering to the institutional investors.
In addition, the Company also announced that it has also closed
on its previously announced sale to certain accredited investors of
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.
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 were offered and sold 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 has been 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 http://www.sec.gov or by contacting
H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New
York, NY 10022, by
e-mail: placements@hcwco.com 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.
About Caladrius Biosciences
Caladrius Biosciences, Inc. is a clinical-stage
biopharmaceutical company dedicated to the development of cellular
therapies designed to reverse disease. We are developing
first-in-class cell therapy products based on the finely tuned
mechanisms for self-repair that exist in the human body. Our
technology leverages and enables these mechanisms in the form of
specific cells, using formulations and modes of delivery unique to
each medical indication.
The Company’s current product candidates include: CLBS16, the
subject of both a recently completed positive Phase 2a study and a
newly initiated Phase 2b study in the U.S. for the treatment of
coronary microvascular dysfunction (“CMD”); HONEDRA® ( CLBS12),
recipient of SAKIGAKE designation and eligible for early
conditional approval in Japan for the treatment of critical limb
ischemia (“CLI”) and Buerger’s Disease based on the results of an
ongoing clinical trial; CLBS201, designed to assess the safety and
efficacy of CD34+ cell therapy as a treatment for chronic kidney
disease (“CKD”) and OLOGO™ ( CLBS14), a Regenerative Medicine
Advanced Therapy (“RMAT”) designated therapy for which the Company
is in discussion with the U.S. Food and Drug Administration (the
“FDA”) to finalize a Phase 3 protocol of reduced size and scope for
a confirmatory trial in subjects with no-option refractory
disabling angina (“NORDA”).For more information on the company,
please visit www.caladrius.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management’s current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. All statements other than
statements of historical fact contained in this press release are
forward-looking statements including, without limitation, the
intended use of net proceeds from the offerings as well as any
expectations of revenues, expenses, cash flows, earnings or losses
from operations, cash required to maintain current and planned
operations, capital or other financial items; any statements of the
plans, strategies and objectives of management for future
operations; market and other conditions; any plans or expectations
with respect to product research, development and
commercialization, including regulatory approvals; any other
statements of expectations, plans, intentions or beliefs; and any
statements of assumptions underlying any of the foregoing. Without
limiting the foregoing, the words “plan,” “project,” “forecast,”
“outlook,” “intend,” “may,” “will,” “expect,” “likely,” “believe,”
“could,” “anticipate,” “estimate,” “continue” or similar
expressions or other variations or comparable terminology are
intended to identify such forward-looking statements, although some
forward-looking statements are expressed differently. Factors that
could cause future results to differ materially from the recent
results or those projected in forward-looking statements include
the “Risk Factors” described in the Company’s Annual Report on Form
10-K filed with the Securities and Exchange Commission (“SEC”) on
March 5, 2020 and in the Company’s other periodic filings with the
SEC. The Company’s further development is highly dependent on,
among other things, future medical and research developments and
market acceptance, which are outside of its control. You are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date of this Press Release.
Caladrius does not intend, and disclaims any obligation, to update
or revise any forward-looking information contained in this Press
Release or with respect to the matters described herein, except as
required by law.
Contact:
Investors:Caladrius Biosciences, Inc.John MendittoVice
President, Investor Relations and Corporate
CommunicationsPhone: +1-908-842-0084Email: jmenditto@caladrius.com
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