Filed pursuant to Rule 424(b)(2)
Registration No. 333-254971
PROSPECTUS
$150,000,000
CALADRIUS BIOSCIENCES, INC.
Common Stock
Preferred Stock
Debt Securities
Warrants
Units
This prospectus will allow
us to issue, from time to time at prices and on terms to be determined at or prior to the time of the offering, up to $150,000,000 of
any combination of the securities described in this prospectus, either individually or in units. We may also offer common stock or preferred
stock upon conversion of or exchange for the debt securities; common stock or preferred stock or debt securities upon the exercise of
warrants.
This prospectus describes
the general terms of these securities and the general manner in which these securities will be offered. We will provide you with the specific
terms of any offering in one or more supplements to this prospectus. The prospectus supplements will also describe the specific manner
in which these securities will be offered and may also supplement, update or amend information contained in this document. You should
read this prospectus and any prospectus supplement, as well as any documents incorporated by reference into this prospectus or any prospectus
supplement, carefully before you invest.
Our securities may be sold
directly by us to you, through agents designated from time to time to or through underwriters or dealers. For additional information on
the methods of sale, you should refer to the section entitled "Plan of Distribution" in this prospectus and in the applicable
prospectus supplement. If any underwriters or agents are involved in the sale of our securities with respect to which this prospectus
is being delivered, the names of such underwriters or agents and any applicable fees, commissions or discounts and over-allotment options
will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds that we expect to receive
from such sale will also be set forth in a prospectus supplement.
Our common stock is traded
on The Nasdaq Capital Market under the symbol “CLBS.” On May 5, 2021, the last reported sale price of our common stock on
The Nasdaq Capital Market was $1.55 per share.
Investing in our securities
involves risks. See “Risk Factors” at page 4 of this prospectus.
Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy
or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
This prospectus may not be
used to consummate sales of securities unless it is accompanied by a prospectus supplement.
The date of this prospectus is May 4, 2021.
TABLE OF CONTENTS
No dealer, salesperson
or other person has been authorized to give any information or to make any representations other than those contained or incorporated
by reference in this prospectus or any accompanying prospectus supplement in connection with the offer made by this prospectus or any
accompanying prospectus supplement and, if given or made, such information or representations must not be relied upon as having been authorized
by Caladrius Biosciences, Inc. or any such person. Neither the delivery of this prospectus or any accompanying prospectus supplement nor
any sale made hereunder and thereunder shall under any circumstances create an implication that there has been no change in the affairs
of Caladrius Biosciences, Inc. since the date hereof. This prospectus or any accompanying prospectus supplement does not constitute an
offer or solicitation by anyone in any state in which such offer or solicitation is not authorized or in which the person making such
offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.
ABOUT THIS PROSPECTUS
This prospectus is part of
a registration statement that we filed with the Securities and Exchange Commission, using a “shelf” registration process.
Under this shelf process, we may sell any combination of the securities described in this prospectus in one or more offerings up to a
total dollar amount of $150,000,000. We have provided to you in this prospectus a general description of the securities we may offer.
Each time we sell securities under this shelf registration process, we will provide a prospectus supplement that will contain specific
information about the terms of the offering. We may also add, update or change any of the information contained in this prospectus in
the prospectus supplement or any “free writing prospectus” we may authorize to be delivered to you. To the extent there is
a conflict between the information contained in this prospectus and the prospectus supplement or any free writing prospectus we may authorize
to be delivered to you, you should rely on the information in the prospectus supplement or free writing prospectus, as the case may be,
provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date-for
example, a document incorporated by reference in this prospectus or any prospectus supplement-the statement in the document having the
later date modifies or supersedes the earlier statement. This prospectus, together with the applicable prospectus supplements and any
free writing prospectus we may authorize to be delivered to you, includes all material information relating to a particular offering.
An investment in our securities
involves certain risks that should be carefully considered by prospective investors. See “Risk Factors.”
You should read this prospectus
and any prospectus supplement as well as additional information described under “Incorporation of Certain Documents by Reference”
and “Where You Can Find More Information” on page 26.
ABOUT CALADRIUS
Overview
Caladrius Biosciences, Inc.
(“we,” “us,” "our," “Caladrius” or the “Company”) is a clinical-stage biopharmaceutical
company dedicated to the development and commercialization of cellular therapies designed to reverse disease and/or promote the regeneration
of damaged tissue. We are developing first-in-class therapeutics based on the characteristics of naturally occurring CD34+ cells and their
ability to stimulate the growth of new microvasculature. Our technology leverages these cells to enable the body's natural repair mechanisms
using formulations unique to each medical indication.
Our leadership team has decades
of collective biopharmaceutical development experience. Our goal is to develop and commercialize products that address important unmet
medical needs based on a broad and versatile portfolio of candidates. Our current product candidates include: CLBS16, the subject of both
a recently completed positive Phase 2a study and a newly initiated Phase 2b (FREEDOM) 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 and recipient of orphan drug designation in March 2021 from the U.S. Food and Drug Administration
("FDA") for Buerger's disease; CLBS201, designed to assess the safety and efficacy of CD34+ cell therapy as a treatment for
patients with pre-dialysis diabetic kidney disease (“DKD”) and OLOGO™ (CLBS14), a Regenerative Medicine Advanced
Therapy (“RMAT”) designated Phase 3 ready therapy for treatment of no-option refractory disabling angina (“NORDA”).
Ischemic Repair (CD34 Cell Technology)
The CD34+ cell was discovered
as a result of the deliberate search for a stem cell capable of stimulating the development and/or repair of blood vessels. All tissues
in the body maintain their function by replacing cells over time. In addition to the maintenance function, the body must also be capable
of building new blood vessels after injury. A CD34+ cell is a stem cell that has the ability to stimulate new blood vessel formation at
the level of the microvasculature. No other native cell discovered to date has demonstrated this same capability.
Our proprietary cell technology
using autologous (a patient’s own naturally occurring) CD34+ cells has led to the development of therapeutic product candidates
designed to address diseases and conditions caused by ischemia. Ischemia occurs when the supply of oxygenated blood to healthy tissue
is restricted. Through the administration of CD34+ cells, we seek to promote the development and formation of new microvasculature and
thereby increase blood flow to the impacted area. We believe that a number of conditions caused by underlying ischemic injury can be improved
through our CD34+ cell technology including but not limited to CLI, CMD, DKD and NORDA.
HONEDRA® for Treatment of
Critical Limb Ischemia
Our randomized and open-label,
registration-eligible study of HONEDRA® in Japan for the treatment of CLI has shown strong results to date. The initial
responses observed in the subjects who have reached an endpoint in this open label study are consistent with a positive therapeutic effect
and safety profile as reported by previously published clinical trials in Japan. The study's enrollment continues to be slowed by the
COVID-19 pandemic's impact in Japan, however, we are encouraged by the patient pre-screening pipeline and continue to make progress towards
study completion, the exact date of which is impossible to predict given the continuing impact of COVID-19 on clinical trials, like ours,
in Japan. While the final outcome of the trial will depend on all data from all subjects, data, to date, are very encouraging.
CLBS16 for Treatment of Coronary Microvascular
Dysfunction
In 2017, with the assistance
of a $1.9 million grant from the National Institutes of Health (Award Number R44HL135889), we initiated our program for CLBS16 for the
treatment of CMD, a disease that afflicts millions of patients with no current targeted treatment options. That study, the ESCaPE-CMD
trial, was a Phase 2a proof-of-concept study that enrolled patients at the Mayo Clinic in Rochester, MN and Cedars-Sinai Medical Center
in Los Angeles, CA. That data set showed a positive therapeutic effect with a statistically significant improvement in angina frequency,
coronary flow reserve, Canadian Cardiovascular Society Angina Class and Seattle Questionnaire score, as well as an acceptable safety profile.
The full data set from that study was presented at the SCAI 2020 Scientific Sessions Virtual Conference
on May 14, 2020 by Dr. Timothy Henry, FACC, of the Christ Hospital in Cincinnati, Ohio. In December 2020, we commenced enrollment in our
Phase 2b FREEDOM trial of CLBS16 as a therapy for CMD. The first patient in the study was subsequently treated in January 2021 at The
Christ Hospital Health Network in Cincinnati, Ohio. This 105-patient double-blind randomized and placebo-controlled clinical trial (FREEDOM
Trial) is designed to further evaluate the efficacy and safety of intracoronary delivery of autologous CD34+ cells in subjects with CMD
and without obstructive coronary artery disease. To our knowledge, this is the first controlled regenerative medicine trial in CMD.
CLBS201 for Treatment of Diabetic Kidney
Disease
We have prepared an initial
development plan for the clinical study of CLBS201, a CD34+ investigational product for administration into the renal arteries, to slow
the deterioration or reverse the decline of renal function in patients with diabetic kidney disease ("DKD") who, although at
a pre-dialysis stage, exhibit rapidly progressive disease. Progressive kidney failure is associated with attrition of the microcirculation
of the kidney. Pre-clinical studies in kidney disease and injury models have demonstrated that protection or replenishment of the microcirculation
results in improved kidney function. A Phase 2 proof of concept, randomized, placebo-controlled study is planned for initiation in the
second half of 2021.
OLOGO™ for Treatment
of No Option Refractory Disabling Angina
We acquired the rights to
data and regulatory filings for a CD34+ cell therapy program for refractory angina that had been advanced to Phase 3 by a previous sponsor.
Based on the clinical evidence
from the completed studies that a single administration of OLOGO™ reduces mortality, improves angina and increases exercise
capacity in patients with otherwise untreatable angina, this product received Regenerative Medicine Advanced Therapy (“RMAT”)
designation from the FDA. We continue to seek an agreement with the FDA on the design of a Phase 3 study of appropriate and practical
size and scope which, in combination with previously filed Phase 1, 2 and 3 data, will be considered for the registration of OLOGO™.
Notably, the RMAT designation affords the product a 6-month review time for a biologics license application ("BLA"), once submitted.
Additional Out-licensing Opportunities
Our broad intellectual property
portfolio of cell therapy assets includes notable programs available for out-licensing in order to continue their clinical development.
Our current long-term strategy focuses on advancing our therapies through development with the ultimate objective of obtaining market
authorizations and entering commercialization, either alone or with partners, to provide treatment options to patients suffering from
life-threatening medical conditions. We believe that we are well-positioned to realize potentially meaningful value increases within our
own proprietary pipeline if we are successful in advancing our product candidates to their next significant development milestones.
Coronavirus Considerations
In December 2019, a novel
strain of coronavirus (SARS-CoV-2), which causes COVID-19, was reported to have surfaced in China. In March 2020, the World Health Organization
declared the outbreak of COVID-19 to be a pandemic, and the world's economies began to experience pronounced effects. Despite the FDA
approval of multiple COVID-19 vaccines in late 2020, there remains uncertainty around the extent and duration of disruption and any future
related financial impact cannot be reasonably estimated at this time. In response to the pandemic, we have implemented universal work
from home as well as stringent social distancing and other hygiene policies for employees when they must be in the office. Our clinical
study of HONEDRA® in Japan has experienced significant delays in enrollment due to the “State of Emergency”
in effect in Japan for most of 2020 and re-implemented in Japan on January 7, 2021 through March 21, 2021 covering Tokyo and other regions
in response to increased number of COVID-19 patients. Due to recently reported large increases in COVID-19 cases in Japan, a renewed “State
of Emergency” was implemented for the period from April 25, 2021 through May 11, 2021. This newly reinstated “State of Emergency”
continues negatively to impact enrollment of the ongoing clinical trial.
RISK FACTORS
Investing in our securities
involves risk. Please see the risk factors set forth under the heading “Risk Factors” beginning on page 16 of our Annual Report
on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission (the "SEC") on
February 25, 2021 (our "2020 Form 10-K"), which documents are on file with the Securities and Exchange Commission and incorporated
by reference into this prospectus. Before making an investment decision, you should carefully consider these risks as well as other information
we include or incorporate by reference in this prospectus and any prospectus supplement. The risks and uncertainties we have described
are not the only ones facing our Company. Additional risks and uncertainties not presently known to us or that we currently deem immaterial
may also affect our business operations.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
This prospectus, any prospectus
supplement and the documents we incorporate by reference in this prospectus contain forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical facts, that we include
in this prospectus, any prospectus supplement, and in the documents we incorporate by reference in this prospectus, may be deemed forward-looking
statements for purposes of the Securities Act and the Exchange Act. We use the words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,”
“would” and similar expressions to identify forward-looking statements, although not all forward-looking statements contain
these identifying words. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in our forward-looking
statements and, accordingly, you should not place undue reliance on our forward-looking statements. There are a number of important factors
that could cause actual results or events to differ materially from anticipated results expressed or implied by such forward-looking statements,
including among others:
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our ability to obtain sufficient capital or strategic business arrangements to fund our operations and
expansion plans, including meeting our financial obligations under various licensing and other strategic arrangements, the funding of
our clinical trials for product candidates, and the commercialization of the relevant technology;
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our ability to build and maintain the management and human resources infrastructure necessary to support
the growth of our business;
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whether a market is established for our cell-based products and services and our ability to capture a
meaningful share of this market;
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scientific, regulatory and medical developments beyond our control;
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our ability to obtain and maintain, as applicable, appropriate governmental licenses, accreditations or
certifications or comply with healthcare laws and regulations or any other adverse effect or limitations caused by government regulation
of our business;
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whether any of our current or future patent applications result in issued patents, the scope of those
patents and our ability to obtain and maintain other rights to technology required or desirable for the conduct of our business; and our
ability to commercialize products without infringing the claims of third party patents;
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whether any potential strategic or financial benefits of various licensing agreements will be realized;
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the results of our development activities; and
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our ability to complete our other planned clinical trials (or initiate other trials) in accordance with
our estimated timelines due to delays associated with enrolling patients due to the novelty of the treatment, the size of the patient
population and the need of patients to meet the inclusion criteria of the trial or otherwise.
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The factors discussed herein, including those
risks described in "Item 1A. Risk Factors" in the 2020 Form 10-K and in the Company's other periodic filings with the SEC, which
are available for review at www.sec.gov under "Search for Company Filings," could cause actual results and developments
to be materially different from those expressed or implied by such statements. All forward-looking statements attributable to us are expressly
qualified in their entirety by these and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date they were made. Except as required by law, the Company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events or otherwise.
You
should read these factors and the other cautionary statements made in the documents we incorporate by reference as being applicable to
all related forward-looking statements wherever they appear in this prospectus, any prospectus supplement, and any document incorporated
by reference. We caution you that we do not undertake any obligation to update forward-looking statements made by us, except as required
by law.
USE OF PROCEEDS
Unless otherwise provided
in the applicable prospectus supplement, we intend to use the net proceeds from the sale of the securities under this prospectus for working
capital, including research and development of cell therapeutic product candidates, expansion of our business, strategic transactions
and other general corporate purposes. We will set forth in the prospectus supplement our intended use for the net proceeds received from
the sale of any securities. Pending the use of the net proceeds, we may use the net proceeds to invest in investment-grade, interest-bearing
securities
THE SECURITIES WE MAY OFFER
The descriptions of the securities
contained in this prospectus, together with the applicable prospectus supplements, summarize all the material terms and provisions of
the various types of securities that we may offer. We will describe in the applicable prospectus supplement relating to any securities
the particular terms of the securities offered by that prospectus supplement. If we indicate in the applicable prospectus supplement,
the terms of the securities may differ from the terms we have summarized below. We will also include in the prospectus supplement information,
where applicable, about material United States federal income tax considerations relating to the securities, and the securities exchange,
if any, on which the securities will be listed.
We may sell from time to time,
in one or more offerings:
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warrants to purchase any of the securities listed above; and
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units consisting of any combination of the securities listed above.
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In this prospectus, we refer
to the common stock, preferred stock, debt securities, warrants and units collectively as “securities.” The total dollar amount
of all securities that we may sell will not exceed $150,000,000.
If we issue debt securities
at a discount from their original stated principal amount, then, for purposes of calculating the total dollar amount of all securities
issued under this prospectus, we will treat the initial offering price of the debt securities as the total original principal amount of
the debt securities.
This prospectus may not be
used to consummate a sale of securities unless it is accompanied by a prospectus supplement.
DESCRIPTION OF CAPITAL STOCK
The following is a summary
of all material characteristics of our capital stock as set forth in our certificate of incorporation and bylaws, and our outstanding
warrants. The summary does not purport to be complete and is qualified in its entirety by reference to our certificate of incorporation
and bylaws, which are incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and to the
provisions of the General Corporation Law of the State of Delaware, as amended.
Authorized Capital Stock
Our authorized capital stock
consists of 500,000,000 shares of common stock, par value $0.001 per share and 20,000,000 shares of preferred stock, par value $0.01
per share.
Common Stock
The holders of our common
stock are entitled to one vote per share in the election of directors and on all other matters on which stockholders are entitled or permitted
to vote. The holders of our common stock are not entitled to cumulative voting rights. Therefore, holders of a majority of the shares
voting for the election of directors can elect all of the directors. Subject to the terms of any outstanding series of preferred stock,
the holders of our common stock are entitled to dividends in the amounts and at times as may be declared by the Board of Directors out
of funds legally available. Upon liquidation or dissolution, holders of our common stock are entitled to share ratably in all net assets
available for distribution to stockholders after payment of any liquidation preferences to holders of our preferred stock. The holders
of our common stock have no redemption, conversion or preemptive rights.
As of March 31, 2021,
we had 59,498,958 shares of common stock issued and outstanding, exclusive of existing convertible preferred stock, options and warrants.
Preferred Stock
Our Board of Directors has
the authority to issue up to 20,000,000 shares of preferred stock, with such designations, rights, and preferences as may be determined
from time to time by our Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue
preferred stock with dividend, liquidation, conversion, voting, or other rights that could adversely affect the voting power or other
rights of the holders of our common stock. The issuance of preferred stock could have the effect of restricting dividends on our common
stock, diluting the voting power of our common stock, impairing the liquidation rights of our common stock, or delaying or preventing
a change in control of our company, all without further action by our stockholders.
As of March 31, 2021,
there were 10,000 shares of our Series B Convertible Redeemable Preferred Stock, $0.01 par value per share (“Series B Preferred
Stock”), issued and outstanding.
Series B Preferred Stock
The Series B Preferred Stock
ranks pari passu with our common stock with respect to the payment of dividends and to the distribution of assets upon liquidation, dissolution
or winding up.
So long as any shares of the
Series B Preferred Stock are outstanding, no dividend shall be declared or paid or set aside for payment or other distribution declared
or made upon our common stock or upon any other stock ranking junior to, or on a parity with, the Series B Preferred Stock as to dividends
or upon liquidation, dissolution or winding up, unless, in the case of our preferred stock, the same dividend is declared, paid or set
aside for payment on all outstanding shares of the Series B Preferred Stock or in the case of our common stock, ten
times such dividend per share is declared, paid or set aside for payment on each outstanding share of the Series B Preferred Stock.
Except as otherwise provided
by law, each share of the Series B Preferred Stock has the same voting rights as ten shares of our common stock and the holders of the
Series B Preferred Stock and the common stock shall vote together as one class on all matters.
The holder of any share of
Series B Preferred Stock has the right, at such holder’s option, to convert such share into one one-hundredth of a fully paid and
non-assessable share of our common stock, subject to adjustment.
In the event of any voluntary
or involuntary dissolution, liquidation or winding up of our Company, after any distribution of assets is made to the holders of any other
class or series of stock that ranks prior to the Series B Preferred Stock in respect of distributions upon the liquidation of the Company,
the holder of each share of Series B Preferred Stock then outstanding shall be entitled to be paid out of our assets available for distribution
to our stockholders, an amount on a pari passu basis equal to ten times the amount per share distributed to the holders of our common
stock. After payment of the full amount of the distribution to which they are entitled, the holders of shares of the Series B Preferred
Stock will not be entitled to any further participation in any distribution of assets by the Company.
Shares of Series B Preferred
Stock issued and reacquired by us shall have the status of authorized and unissued shares of preferred stock, undesignated as to series,
subject to later issuance.
Holders of shares of Series
B Preferred Stock are not entitled to any preemptive or subscription rights in respect of any securities of the corporation.
Options and Restricted Stock Units
As of March 31, 2021,
we had outstanding options to purchase an aggregate of 1,025,043 shares of our common stock with exercise prices ranging from $1.43
to $174.00 per share, with an approximate weighted average exercise price of $13.46 per share. The shares of our common stock
underlying all such options are registered with the SEC.
As of March 31, 2021,
we had 796,360 restricted stock units issued and outstanding.
Warrants
As of March 31, 2021,
we had outstanding warrants to purchase an aggregate of 21,356,600 shares of our common stock with an approximate weighted average
exercise price of $2.84. On March 11, 2016, we entered into a Consent and Third Amendment to Loan and Security Agreement (the “Amendment”)
with Oxford Finance, LLC (the “Lender”). In connection with the Amendment, we issued to the Lender warrants to purchase an
aggregate of 30,000 shares of common stock (the “Lender Warrants”), which are exercisable for a period of 7 years from the
issuance date at an exercise price of $5.89 per share. The shares of common stock underlying such warrants have been registered for resale.
On April 23, 2020, we entered
into a securities purchase agreement ("April 2020 Purchase Agreement") with certain investors ("Purchasers"). Pursuant
to the April 2020 Purchase Agreement, we issued to the Purchasers unregistered warrants to purchase up to an aggregate of 1,081,083 shares
of common stock, which are exercisable for a period of five and one-half years from the issuance date at an exercise price of $2.25 per
share.
On May 25, 2020, we entered
into a securities purchase agreement (“May 2020 Purchase Agreement”) with certain investors (“Purchasers”). Pursuant
to the May 2020 Purchase Agreement, we issued to the Purchasers unregistered warrants to purchase up to an aggregate of 1,042,425 shares
of common stock, which are exercisable for a period of five and one-half years from the issuance date at an exercise price of $2.0625
per share.
On July 10, 2020, we entered
into a securities purchase agreement (“July 2020 Purchase Agreement”) with certain investors (“Purchasers”). Pursuant
to the July 2020 Purchase Agreement, we issued to the Purchasers unregistered warrants to purchase up to an aggregate of 484,847 shares
of common stock, which are exercisable for a period of five and one-half years from the issuance date at an exercise price of $2.0625
per share.
On January 21, 2021, we entered
into a securities purchase agreement (“January 2021 Purchase Agreement”) with certain investors (“Purchasers”).
Pursuant to the January 2021 Purchase Agreement, we issued to the Purchasers unregistered warrants to purchase up to an aggregate of 6,250,000
shares of common stock, which are exercisable for a period of five and one-half years from the issuance date at an exercise price of $2.90
per share.
On February 12, 2021, we entered
into a securities purchase agreement (“February 2021 Purchase Agreement”) with certain institutional investors (“Institutional
Purchasers”). Pursuant to the February 2021 Purchase Agreement, we issued to the Purchasers unregistered warrants to purchase up
to an aggregate of 12,453,067 shares of common stock, which are exercisable for a period of five years from the issuance date at an exercise
price of $2.90 per share. Additionally, in a concurrent non-brokered registered direct offering, we entered into a securities purchase
agreement (“Additional Purchase Agreement”) with certain accredited investors (“Additional Purchasers”), pursuant
to which we issued to the Additional Purchasers warrants to purchase up to an aggregate of 816,326 shares of common stock, which are exercisable
for a period of five years from the issuance date at an exercise price of $2.90 per share.
Anti-Takeover Effects of Certain Provisions
of Delaware Law and Our Certificate of Incorporation and Bylaws
Our Amended and Restated Certificate
of Incorporation and bylaws contain some provisions that could make our acquisition by means of a tender or exchange offer, a proxy contest
or otherwise more difficult. These provisions are summarized below.
Special Meetings. Our
bylaws provide that special meetings of our stockholders may, unless otherwise prescribed by law, be called by our Chairman of the Board
(if any), our Board of Directors or our Chief Executive Officer and shall be held at such place, on such date and at such time as shall
be fixed by our Board of Directors or the person calling the meeting. Business transacted at any special meeting shall be limited to matters
relating to the purpose or purposes stated in the notice of the meeting.
Undesignated Preferred
Stock. The ability to authorize undesignated preferred stock makes it possible for our Board of Directors to issue preferred stock
with voting or other rights or preferences that could impede the success of any attempt to acquire us. The ability to issue preferred
stock may have the effect of deferring hostile takeovers or delaying changes in control or management of our company.
Delaware Anti-Takeover
Statute. We are subject to the provisions of Section 203 of the Delaware General Corporation Law regulating corporate takeovers.
In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a business combination with an interested
stockholder for a period of three years following the date the person became an interested stockholder unless:
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prior to the date of the transaction, the board of directors of the corporation approved either the business
combination or the transaction which resulted in the stockholder becoming an interested stockholder;
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upon completion of the transaction that resulted in the stockholder becoming an interested stockholder,
the stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding
for purposes of determining the number of shares outstanding (1) shares owned by persons who are directors and also officers and
(2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether
shares held subject to the plan will be tendered in a tender or exchange offer; and
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on or subsequent to the date of the transaction, the business combination is approved by the board and
authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3%
of the outstanding voting stock which is not owned by the interested stockholder.
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Generally, a business combination
includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An interested
stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested
stockholder status, owned 15% or more of a corporation’s outstanding voting securities. We expect the existence of this provision
to have an anti-takeover effect with respect to transactions our Board of Directors does not approve in advance. We also anticipate that
Section 203 may discourage attempted acquisitions that might result in a premium over the market price for the shares of our common
stock held by stockholders.
The provisions of Delaware
law, our Amended and Restated Certificate of Incorporation and our bylaws could have the effect of discouraging others from attempting
hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our common stock that often
result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in our management.
It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be
in their best interests.
Potential Effects of Authorized but Unissued
Stock
We have shares of Common Stock
and preferred stock available for future issuance without stockholder approval. We may utilize these additional shares for a variety of
corporate purposes, including future public offerings to raise additional capital, to facilitate corporate acquisitions or payment as
a dividend on the capital stock.
The existence of unissued
and unreserved Common Stock and preferred stock may enable our Board of Directors to issue shares to persons friendly to current management
or to issue preferred stock with terms that could render more difficult or discourage a third-party attempt to obtain control of us by
means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management. In addition, the Board
of Directors has the discretion to determine designations, rights, preferences, privileges and restrictions, including voting rights,
dividend rights, conversion rights, redemption privileges and liquidation preferences of each series of preferred stock, all to the fullest
extent permissible under the Delaware General Corporation Law and subject to any limitations set forth in our certificate of incorporation.
The purpose of authorizing the Board of Directors to issue preferred stock and to determine the rights and preferences applicable to such
preferred stock is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while
providing desirable flexibility in connection with possible financings, acquisitions and other corporate purposes, could have the effect
of making it more difficult for a third party to acquire, or could discourage a third party from acquiring, a majority of our outstanding
voting stock.
Limitations of Director Liability and Indemnification
of Directors, Officers and Employees
Section 145 of the Delaware
General Corporation Law, permits indemnification of directors, officers, agents and controlling persons of a corporation under certain
conditions and subject to certain limitations. Section 145 empowers a corporation to indemnify any person who was or is a party or
is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative
or investigative, by reason of the fact that he or she is or was a director, officer or agent of the corporation or another enterprise
if serving at the request of the Company. Depending on the character of the proceeding, a corporation may indemnify against expenses (including
attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action,
suit or proceeding if the person indemnified acted in good faith and in a manner he or she reasonably believed to be in or not opposed
to, the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe
his or her conduct was unlawful. In the case of an action by or in the right of the corporation, no indemnification may be made with respect
to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the
extent that the Court of Chancery or the court in which such action or suit was brought shall determine that despite the adjudication
of liability such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper. Section 145
further provides that to the extent a present or former director or officer of a corporation has been successful in the defense of any
action, suit or proceeding referred to above or in the defense of any claim, issue or matter therein, such person shall be indemnified
against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection therewith.
Litigation Forum Selection Clause
Our bylaws provides that,
unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding
brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
of the Company to the Company or its stockholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware
General Corporation Law or our certificate of incorporation or our bylaws or (iv) any action asserting a claim governed by the internal
affairs doctrine shall be the Court of Chancery in the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the
federal district court for the District of Delaware).
Indemnification Agreements
We have entered into indemnification
agreements with our Chief Executive Officer, General Counsel, certain other employees and each of our directors pursuant to which we have
agreed to indemnify such party to the full extent permitted by law, subject to certain exceptions, if such party becomes subject to an
action because such party is our director, officer, employee, agent or fiduciary.
Transfer Agent
The transfer agent and registrar
for our Common Stock is American Stock Transfer & Trust Company (AST). Its address is 6201 15th Avenue, Brooklyn,
NY 11219 and its telephone number is 1-800-937-5449. You can also e-mail AST at help@astfinancial.com.
The Nasdaq Capital Market
Our Common Stock is traded
on The Nasdaq Capital Market under the symbol “CLBS.”
DESCRIPTION OF DEBT SECURITIES
We summarize below some of
the provisions that will apply to the debt securities unless the applicable prospectus supplement provides otherwise. This summary may
not contain all information that is important to you. The complete terms of the debt securities will be contained in the applicable notes.
The notes will be included or incorporated by reference as exhibits to the registration statement of which this prospectus is a part.
You should read the provisions of the notes. You should also read the prospectus supplement, which will contain additional information
and which may update or change some of the information below.
General
This prospectus describes
certain general terms and provisions of the debt securities. The debt securities will be issued under an indenture between us and a trustee
to be designated prior to the issuance of the debt securities. When we offer to sell a particular series of debt securities, we will describe
the specific terms of the securities in a supplement to this prospectus. The prospectus supplement will also indicate whether the general
terms and provisions described in this prospectus apply to a particular series of debt securities.
We may issue, from time to
time, debt securities, in one or more series, that will consist of either our senior debt (“senior debt securities”), our
senior subordinated debt (“senior subordinated debt securities”), our subordinated debt (“subordinated debt securities”)
or our junior subordinated debt (“junior subordinated debt securities” and, together with the senior subordinated debt securities
and the subordinated debt securities, the “subordinated securities”). Debt securities, whether senior, senior subordinated,
subordinated or junior subordinated, may be issued as convertible debt securities or exchangeable debt securities.
We have summarized herein
certain terms and provisions of the form of indenture (the “indenture”). The summary is not complete and is qualified in its
entirety by reference to the actual text of the indenture. The indenture is an exhibit to the registration statement of which this prospectus
is a part. You should read the indenture for the provisions which may be important to you. The indenture is subject to and governed by
the Trust Indenture Act of 1939, as amended.
The indenture does not limit
the amount of debt securities which we may issue. We may issue debt securities up to an aggregate principal amount as we may authorize
from time to time which securities may be in any currency or currency unit designated by us. The terms of each series of debt securities
will be established by or pursuant to (a) a supplemental indenture, (b) a resolution of our board of directors, or (c) an
officers’ certificate pursuant to authority granted under a resolution of our board of directors. The prospectus supplement will
describe the terms of any debt securities being offered, including:the title of the debt securities;the limit, if any, upon the aggregate
principal amount or issue price of the debt securities of a series;
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ranking of the specific series of debt securities relative to other outstanding indebtedness, including
any debt of any of our subsidiaries;
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the price or prices at which the debt securities will be issued;
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the designation, aggregate principal amount and authorized denominations of the series of debt securities;
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the issue date or dates of the series and the maturity date of the series;
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whether the securities will be issued at par or at a premium over or a discount from their face amount;
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the interest rate, if any, and the method for calculating the interest rate and basis upon which interest
shall be calculated;
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the right, if any, to extend interest payment periods and the duration of the extension;
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the interest payment dates and the record dates for the interest payments;
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any mandatory or optional redemption terms or prepayment, conversion, sinking fund or exchangeability
or convertibility provisions;
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the currency of denomination of the securities;
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the place where we will pay principal, premium, if any, and interest, if any, and the place where the
debt securities may be presented for transfer;
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if payments of principal of, premium, if any, or interest, if any, on the debt securities will be made
in one or more currencies or currency units other than that or those in which the debt securities are denominated, the manner in which
the exchange rate with respect to these payments will be determined;
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if other than denominations of $1,000 or multiples of $1,000, the denominations the debt securities will
be issued in;
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whether the debt securities will be issued in the form of global securities or certificates;
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the applicability of and additional provisions, if any, relating to the defeasance of the debt securities;
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the portion of principal amount of the debt securities payable upon declaration of acceleration of the
maturity date, if other than the entire principal amount;
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the currency or currencies, if other than the currency of the United States, in which principal and interest
will be paid;
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the dates on which premium, if any, will be paid;
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any addition to or change in the “Events of Default” described in this prospectus or in the
indenture with respect to the debt securities and any change in the acceleration provisions described in this prospectus or in the indenture
with respect to the debt securities;
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any addition to or change in the covenants described in the prospectus or in the indenture with respect
to the debt securities;
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our right, if any, to defer payment of interest and the maximum length of this deferral period; and
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other specific terms, including any additional events of default or covenants.
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We may issue debt securities
at a discount below their stated principal amount. Even if we do not issue the debt securities below their stated principal amount, for
United States federal income tax purposes the debt securities may be deemed to have been issued with a discount because of certain interest
payment characteristics. We will describe in any applicable prospectus supplement the United States federal income tax considerations
applicable to debt securities issued at a discount or deemed to be issued at a discount, and will describe any special United States federal
income tax considerations that may be applicable to the particular debt securities.
Senior Debt
Senior debt securities will
rank equally and pari passu with all of our other unsecured and unsubordinated debt from time to time outstanding.
Subordinated Debt
The indenture does not limit
our ability to issue subordinated debt securities. Any subordination provisions of a particular series of debt securities will be set
forth in the supplemental indenture, board resolution or officers’ certificate related to that series of debt securities and will
be described in the relevant prospectus supplement.
If this prospectus is being
delivered in connection with a series of subordinated debt securities, the accompanying prospectus supplement or the information incorporated
by reference in this prospectus will set forth the approximate amount of senior indebtedness outstanding as of the end of the most recent
fiscal quarter.
Conversion or Exchange Rights
Debt securities may be convertible
into or exchangeable for our other securities or property. The terms and conditions of conversion or exchange will be set forth in the
supplemental indenture, board resolution or officers’ certificate related to that series of debt securities and will be described
in the relevant prospectus supplement. The terms will include, among others, the following:
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the conversion or exchange price;
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the conversion or exchange period;
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provisions regarding our ability or the ability of the holder to convert or exchange the debt securities;
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events requiring adjustment to the conversion or exchange price; and
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provisions affecting conversion or exchange in the event of our redemption of the debt securities.
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Merger, Consolidation or Sale of Assets
The indenture prohibits us
from merging into or consolidating with any other person or selling, leasing or conveying substantially all of our assets and the assets
of our subsidiaries, taken as a whole, to any person, unless:
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either we are the continuing corporation or the successor corporation or the person which acquires by
sale, lease or conveyance substantially all our or our subsidiaries’ assets is a corporation organized under the laws of the United
States, any state thereof, or the District of Columbia, and expressly assumes the due and punctual payment of the principal of, and premium,
if any, and interest, if any, on all the debt securities and the due performance of every covenant of the indenture to be performed or
observed by us, by supplemental indenture satisfactory to the trustee, executed and delivered to the trustee by such corporation;
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immediately after giving effect to such transactions, no Event of Default described under the caption
“Events of Default and Remedies” below or event which, after notice or lapse of time or both would become an Event of Default,
has happened and is continuing; and
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we have delivered to the trustee an officers’ certificate and an opinion of counsel each stating
that such transaction and such supplemental indenture comply with the indenture provisions relating to merger, consolidation and sale
of assets.
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Upon any consolidation or
merger with or into any other person or any sale, conveyance, lease, or other transfer of all or substantially all of our or our subsidiaries’
assets to any person, the successor person shall succeed, and be substituted for, us under the indenture and each series of outstanding
debt securities, and we shall be relieved of all obligations under the indenture and each series of outstanding debt securities to the
extent we were the predecessor person.
Events of Default and Remedies
When we use the term “Event
of Default” in the indenture with respect to the debt securities of any series, we mean:
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default in paying interest on the debt securities when it becomes due and the default continues for a
period of 30 days or more;
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default in paying principal, or premium, if any, on the debt securities when due;
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default is made in the payment of any sinking or purchase fund or analogous obligation when the same becomes
due, and such default continues for 30 days or more;
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default in the performance, or breach, of any covenant or warranty in the indenture (other than defaults
specified in clause (1), (2) or (3) above) and the default or breach continues for a period of 60 days or more
after we receive written notice of such default from the trustee or we and the trustee receive notice from the holders of at least 25%
in aggregate principal amount of the outstanding debt securities of the series;
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certain events of bankruptcy, insolvency, reorganization, administration or similar proceedings with respect
to us have occurred; and
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any other Event of Default provided with respect to debt securities of that series that is set forth in
the applicable prospectus supplement accompanying this prospectus.
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No Event of Default with respect
to a particular series of debt securities (except as to certain events of bankruptcy, insolvency or reorganization) necessarily constitutes
an Event of Default with respect to any other series of debt securities. The occurrence of certain Events of Default or an acceleration
under the indenture may constitute an event of default under certain of our other indebtedness that we may have outstanding from time
to time. Unless otherwise provided by the terms of an applicable series of debt securities, if an Event of Default under the indenture
occurs with respect to the debt securities of any series and is continuing, then the trustee or the holders of not less than 51%
of the aggregate principal amount of the outstanding debt securities of that series may by written notice require us to repay immediately
the entire principal amount of the outstanding debt securities of that series (or such lesser amount as may be provided in the terms of
the securities), together with all accrued and unpaid interest and premium, if any. In the case of an Event of Default resulting from
certain events of bankruptcy, insolvency or reorganization, the principal (or such specified amount) of and accrued and unpaid interest,
if any, on all outstanding debt securities will become and be immediately due and payable without any declaration or other act on the
part of the trustee or any holder of outstanding debt securities. We refer you to the prospectus supplement relating to any series of
debt securities that are discount securities for the particular provisions relating to acceleration of a portion of the principal amount
of such discount securities upon the occurrence of an Event of Default.
After a declaration of acceleration,
the holders of a majority in aggregate principal amount of outstanding debt securities of any series may rescind this accelerated payment
requirement if all existing Events of Default, except for nonpayment of the principal on the debt securities of that series that has become
due solely as a result of the accelerated payment requirement, have been cured or waived and if the rescission of acceleration would not
conflict with any judgment or decree. The holders of a majority in aggregate principal amount of the outstanding debt securities of any
series also have the right to waive past defaults, except a default in paying principal or interest on any outstanding debt security,
or in respect of a covenant or a provision that cannot be modified or amended without the consent of all holders of the debt securities
of that series.
No holder of any debt security
may seek to institute a proceeding with respect to the indenture unless such holder has previously given written notice to the trustee
of a continuing Event of Default, the holders of not less than 51% in aggregate principal amount of the outstanding debt securities
of the series have made a written request to the trustee to institute proceedings in respect of the Event of Default, the holder or holders
have offered reasonable indemnity to the trustee and the trustee has failed to institute such proceeding within 60 days
after it received this notice. In addition, within this 60-day period the trustee must not have received directions inconsistent
with this written request by holders of a majority in aggregate principal amount of the outstanding debt securities of that series. These
limitations do not apply, however, to a suit instituted by a holder of a debt security for the enforcement of the payment of principal,
interest or any premium on or after the due dates for such payment.
During the existence of an
Event of Default actually known to a responsible officer of the trustee, the trustee is required to exercise the rights and powers vested
in it under the indenture and use the same degree of care and skill in its exercise as a prudent person would under the circumstances
in the conduct of that person’s own affairs. If an Event of Default has occurred and is continuing, the trustee is not under any
obligation to exercise any of its rights or powers at the request or direction of any of the holders unless the holders have offered to
the trustee security or indemnity reasonably satisfactory to the trustee. Subject to certain provisions, the holders of a majority in
aggregate principal amount of the outstanding debt securities of any series have the right to direct the time, method and place of conducting
any proceeding for any remedy available to the trustee, or exercising any trust, or power conferred on the trustee.
The trustee will, within 90 days
after receiving notice of any default, give notice of the default to the holders of the debt securities of that series, unless the default
was already cured or waived. Unless there is a default in paying principal, interest or any premium when due, the trustee can withhold
giving notice to the holders if it determines in good faith that the withholding of notice is in the interest of the holders. In the case
of a default specified in clause (4) above describing Events of Default, no notice of default to the holders of the debt securities
of that series will be given until 60 days after the occurrence of the event of default.
The indenture requires us,
within 120 days after the end of our fiscal year, to furnish to the trustee a statement as to compliance with the indenture.
The indenture provides that the trustee may withhold notice to the holders of debt securities of any series of any Event of Default (except
in payment on any debt securities of that series) with respect to debt securities of that series if it in good faith determines that withholding
notice is in the interest of the holders of those debt securities.
Modification and Waiver
The indenture may be amended or modified without
the consent of any holder of debt securities in order to:
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evidence a successor to the trustee;
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cure ambiguities, defects or inconsistencies;
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provide for the assumption of our obligations in the case of a merger or consolidation or transfer of
all or substantially all of our assets that complies with the covenant described under “- Merger, Consolidation or Sale of Assets”;
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make any change that would provide any additional rights or benefits to the holders of the debt securities
of a series;
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add guarantors or co-obligors with respect to the debt securities of any series;
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secure the debt securities of a series;
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establish the form or forms of debt securities of any series;
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add additional Events of Default with respect to the debt securities of any series;
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add additional provisions as may be expressly permitted by the Trust Indenture Act;
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maintain the qualification of the indenture under the Trust Indenture Act; or
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make any change that does not adversely affect in any material respect the interests of any holder.
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Other amendments and modifications
of the indenture or the debt securities issued may be made with the consent of the holders of not less than a majority in aggregate principal
amount of the outstanding debt securities of each series affected by the amendment or modification. However, no modification or amendment
may, without the consent of the holder of each outstanding debt security affected:
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change the maturity date or the stated payment date of any payment of premium or interest payable on the
debt securities;
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reduce the principal amount, or extend the fixed maturity, of the debt securities;
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change the method of computing the amount of principal or any interest of any debt security;
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change or waive the redemption or repayment provisions of the debt securities;
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change the currency in which principal, any premium or interest is paid or the place of payment;
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reduce the percentage in principal amount outstanding of debt securities of any series which must consent
to an amendment, supplement or waiver or consent to take any action;
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impair the right to institute suit for the enforcement of any payment on the debt securities;
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waive a payment default with respect to the debt securities;
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reduce the interest rate or extend the time for payment of interest on the debt securities;
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adversely affect the ranking or priority of the debt securities of any series; or
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release any guarantor or co-obligor from any of its obligations under its guarantee or the indenture,
except in compliance with the terms of the indenture.
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Satisfaction, Discharge and Covenant Defeasance
We may terminate our obligations
under the indenture with respect to the outstanding debt securities of any series, when:
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all debt securities of any series issued that have been authenticated and delivered have been delivered
to the trustee for cancellation; or
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all the debt securities of any series issued that have not been delivered to the trustee for cancellation
have become due and payable, will become due and payable within one year, or are to be called for redemption within one year and we have
made arrangements satisfactory to the trustee for the giving of notice of redemption by such trustee in our name and at our expense, and
in each case, we have irrevocably deposited or caused to be deposited with the trustee sufficient funds to pay and discharge the entire
indebtedness on the series of debt securities; and
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we have paid or caused to be paid all other sums then due and payable under the indenture; and
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we have delivered to the trustee an officers’ certificate and an opinion of counsel, each stating
that all conditions precedent under the indenture relating to the satisfaction and discharge of the indenture have been complied with.
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We may elect to have our obligations
under the indenture discharged with respect to the outstanding debt securities of any series (“legal defeasance”). Legal defeasance
means that we will be deemed to have paid and discharged the entire indebtedness represented by the outstanding debt securities of such
series under the indenture, except for:
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the rights of holders of the debt securities to receive principal, interest and any premium when due;
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our obligations with respect to the debt securities concerning issuing temporary debt securities, registration
of transfer of debt securities, mutilated, destroyed, lost or stolen debt securities and the maintenance of an office or agency for payment
for security payments held in trust;
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the rights, powers, trusts, duties and immunities of the trustee; and
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the defeasance provisions of the indenture.
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In addition, we may elect
to have our obligations released with respect to certain covenants in the indenture (“covenant defeasance”). If we so elect,
any failure to comply with these obligations will not constitute a default or an event of default with respect to the debt securities
of any series. In the event covenant defeasance occurs, certain events, not including non-payment, bankruptcy and insolvency events, described
under “Events of Default and Remedies,” will no longer constitute an event of default for that series.
In order to exercise either
legal defeasance or covenant defeasance with respect to outstanding debt securities of any series:
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we must irrevocably have deposited or caused to be deposited with the trustee as trust funds for the purpose
of making the following payments, specifically pledged as security for, and dedicated solely to the benefits of the holders of the debt
securities of a series:
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U.S. government obligations (or equivalent government obligations in the case of debt securities
denominated in other than U.S. dollars or a specified currency) that will provide, not later than one day before the due date of
any payment, money in an amount; or
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a combination of money and U.S. government obligations (or equivalent government obligations, as
applicable),
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in each case sufficient, in the written opinion
(with respect to U.S. or equivalent government obligations or a combination of money and U.S. or equivalent government obligations,
as applicable) of a nationally recognized firm of independent public accountants to pay and discharge, and which shall be applied by the
trustee to pay and discharge, all of the principal (including mandatory sinking fund payments), interest and any premium at due date or
maturity;
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in the case of legal defeasance, we have delivered to the trustee an opinion of counsel stating that,
under then applicable federal income tax law, the holders of the debt securities of that series will not recognize income, gain or loss
for federal income tax purposes as a result of the deposit, defeasance and discharge to be effected and will be subject to the same federal
income tax as would be the case if the deposit, defeasance and discharge did not occur;
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in the case of covenant defeasance, we have delivered to the trustee an opinion of counsel to the effect
that the holders of the debt securities of that series will not recognize income, gain or loss for federal income tax purposes as a result
of the deposit and covenant defeasance to be effected and will be subject to the same federal income tax as would be the case if the deposit
and covenant defeasance did not occur;
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no event of default or default with respect to the outstanding debt securities of that series has occurred
and is continuing at the time of such deposit after giving effect to the deposit or, in the case of legal defeasance, no default relating
to bankruptcy or insolvency has occurred and is continuing at any time on or before the 91st day after the date of such deposit,
it being understood that this condition is not deemed satisfied until after the 91st day;
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the legal defeasance or covenant defeasance will not cause the trustee to have a conflicting interest
within the meaning of the Trust Indenture Act, assuming all debt securities of a series were in default within the meaning of such Act;
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the legal defeasance or covenant defeasance will not result in a breach or violation of, or constitute
a default under, any other agreement or instrument to which we are a party;
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if prior to the stated maturity date, notice shall have been given in accordance with the provisions of
the indenture;
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the legal defeasance or covenant defeasance will not result in the trust arising from such deposit constituting
an investment company within the meaning of the Investment Company Act of 1940, as amended, unless the trust is registered under
such Act or exempt from registration; and
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we have delivered to the trustee an officers’ certificate and an opinion of counsel stating that
all conditions precedent with respect to the legal defeasance or covenant defeasance have been complied with.
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Covenants
We will set forth in the applicable
prospectus supplement any restrictive covenants applicable to any issue of debt securities.
Paying Agent and Registrar
The trustee will initially
act as paying agent and registrar for all debt securities. We may change the paying agent or registrar for any series of debt securities
without prior notice, and we or any of our subsidiaries may act as paying agent or registrar.
Form of Securities
Each debt security will be
represented either by a certificate issued in definitive form to a particular investor or by one or more global securities representing
the entire issuance of the series of debt securities. Certificated securities will be issued in definitive form and global securities
will be issued in registered form. Definitive securities name you or your nominee as the owner of the security, and in order to transfer
or exchange these securities or to receive payments other than interest or other interim payments, you or your nominee must physically
deliver the securities to the trustee, registrar, paying agent or other agent, as applicable. Global securities name a depositary or its
nominee as the owner of the debt securities represented by these global securities. The depositary maintains a computerized system that
will reflect each investor’s beneficial ownership of the securities through an account maintained by the investor with its broker/dealer,
bank, trust company or other representative, as we explain more fully below.
Global Securities
We may issue the registered
debt securities in the form of one or more fully registered global securities that will be deposited with a depositary or its custodian
identified in the applicable prospectus supplement and registered in the name of that depositary or its nominee. In those cases, one or
more registered global securities will be issued in a denomination or aggregate denominations equal to the portion of the aggregate principal
or face amount of the securities to be represented by registered global securities. Unless and until it is exchanged in whole for securities
in definitive registered form, a registered global security may not be transferred except as a whole by and
among the depositary for the registered global security, the nominees of the depositary or any successors of the depositary or those nominees.
If not described below, any
specific terms of the depositary arrangement with respect to any securities to be represented by a registered global security will be
described in the prospectus supplement relating to those securities. We anticipate that the following provisions will apply to all depositary
arrangements.
Ownership of beneficial interests
in a registered global security will be limited to persons, called participants, that have accounts with the depositary or persons that
may hold interests through participants. Upon the issuance of a registered global security, the depositary will credit, on its book-entry
registration and transfer system, the participants’ accounts with the respective principal or face amounts of the securities beneficially
owned by the participants. Any dealers, underwriters or agents participating in the distribution of the securities will designate the
accounts to be credited. Ownership of beneficial interests in a registered global security will be shown on, and the transfer of ownership
interests will be effected only through, records maintained by the depositary, with respect to interests of participants, and on the records
of participants, with respect to interests of persons holding through participants. The laws of some states may require that some purchasers
of securities take physical delivery of these securities in definitive form. These laws may impair your ability to own, transfer or pledge
beneficial interests in registered global securities.
So long as the depositary,
or its nominee, is the registered owner of a registered global security, that depositary or its nominee, as the case may be, will be considered
the sole owner or holder of the securities represented by the registered global security for all purposes under the indenture. Except
as described below, owners of beneficial interests in a registered global security will not be entitled to have the securities represented
by the registered global security registered in their names, will not receive or be entitled to receive physical delivery of the securities
in definitive form and will not be considered the owners or holders of the securities under the indenture. Accordingly, each person owning
a beneficial interest in a registered global security must rely on the procedures of the depositary for that registered global security
and, if that person is not a participant, on the procedures of the participant through which the person owns its interest, to exercise
any rights of a holder under the indenture. We understand that under existing industry practices, if we request any action of holders
or if an owner of a beneficial interest in a registered global security desires to give or take any action that a holder is entitled to
give or take under the indenture, the depositary for the registered global security would authorize the participants holding the relevant
beneficial interests to give or take that action, and the participants would authorize beneficial owners owning through them to give or
take that action or would otherwise act upon the instructions of beneficial owners holding through them.
Principal, premium, if any,
and interest payments on debt securities represented by a registered global security registered in the name of a depositary or its nominee
will be made to the depositary or its nominee, as the case may be, as the registered owner of the registered global security. Neither
we nor the trustee or any other agent of ours or the trustee will have any responsibility or liability for any aspect of the records relating
to payments made on account of beneficial ownership interests in the registered global security or for maintaining, supervising or reviewing
any records relating to those beneficial ownership interests.
We expect that the depositary
for any of the securities represented by a registered global security, upon receipt of any payment of principal, premium, interest or
other distribution of underlying securities or other property to holders on that registered global security, will immediately credit participants’
accounts in amounts proportionate to their respective beneficial interests in that registered global security as shown on the records
of the depositary. We also expect that payments by participants to owners of beneficial interests in a registered global security held
through participants will be governed by standing customer instructions and customary practices, as is now the case with the securities
held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of those
participants.
If the depositary for any
of these securities represented by a registered global security is at any time unwilling or unable to continue as depositary or ceases
to be a clearing agency registered under the Exchange Act, and a successor depositary registered as a clearing agency under the Exchange
Act is not appointed by us within 90 days, we will issue securities in definitive form in exchange for the registered global
security that had been held by the depositary. Any securities issued in definitive form in exchange for a registered global security will
be registered in the name or names that the depositary gives to the trustee or other relevant agent of ours or theirs. It is expected
that the depositary’s instructions will be based upon directions received by the depositary from participants with respect to ownership
of beneficial interests in the registered global security that had been held by the depositary.
Unless we state otherwise
in a prospectus supplement, the Depository Trust Company (“DTC”) will act as depositary for each series of debt securities
issued as global securities. DTC has advised us that DTC is a limited-purpose trust company created to hold securities for its participating
organizations (collectively, the “Participants”) and to facilitate the clearance and settlement of transactions in those securities
between Participants through electronic book-entry changes in accounts of its Participants. The Participants include securities brokers
and dealers, banks, trust companies, clearing corporations and certain other organizations. Access to DTC’s system is also available
to other entities such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Participant,
either directly or indirectly (collectively, the “Indirect Participants”). Persons who are not Participants may beneficially
own securities held by or on behalf of DTC only through the Participants or the Indirect Participants. The ownership interests in, and
transfers of ownership interests in, each security held by or on behalf of DTC are recorded on the records of the Participants and the
Indirect Participants.
Governing Law
The indenture and each series
of debt securities are governed by, and construed in accordance with, the laws of the State of New York.
DESCRIPTION OF WARRANTS
The following description,
together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions
of the warrants that we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized
below will apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more
detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that
prospectus supplement may differ from the terms described below. Specific warrant agreements will contain additional important terms and
provisions and will be incorporated by reference as an exhibit to the registration statement that includes this prospectus.
General
We may issue warrants for
the purchase of common stock, preferred stock or debt securities in one or more series. We may issue warrants independently or together
with common stock, preferred stock and debt securities, and the warrants may be attached to or separate from these securities.
We will evidence each series
of warrants by warrant certificates that we will issue under a separate agreement. We may enter into a warrant agreement with a warrant
agent. We will indicate the name and address of the warrant agent in the applicable prospectus supplement relating to a particular series
of warrants.
Before exercising their warrants,
holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including:
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in the case of warrants to purchase debt securities, the right to receive payments of principal of, or
premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in the applicable indenture; or
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in the case of warrants to purchase common stock or preferred stock, the right to receive dividends, if
any, or, payments upon our liquidation, dissolution or winding up or to exercise voting rights, if any.
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Additional Information
We will describe in the applicable
prospectus supplement the terms of the series of warrants, including:
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the offering price and aggregate number of warrants offered;
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the currency for which the warrants may be purchased;
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if applicable, the designation and terms of the securities with which the warrants are issued and the
number of warrants issued with each such security or each principal amount of such security;
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if applicable, the date on and after which the warrants and the related securities will be separately
transferable;
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in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable
upon exercise of one warrant and the price at, and currency in which, this principal amount of debt securities may be purchased upon such
exercise;
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in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock
or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these shares may be purchased
upon such exercise;
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the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement
and the warrants;
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the terms of any rights to redeem or call the warrants;
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any provisions for changes to or adjustments in the exercise price or number of securities issuable upon
exercise of the warrants;
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the dates on which the right to exercise the warrants will commence and expire;
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the manner in which the warrant agreement and warrants may be modified;
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a discussion on any material or special United States federal income tax consequences of holding or exercising
the warrants;
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the terms of the securities issuable upon exercise of the warrants; and
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any other specific terms, preferences, rights or limitations of or restrictions on the warrants.
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Exercise of Warrants
Each warrant will entitle
the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in
the applicable prospectus supplement. Unless we otherwise specify in the applicable prospectus supplement, holders of the warrants may
exercise the warrants at any time up to 5 p.m., Eastern time, on the expiration date that we set forth in the applicable prospectus
supplement. After the close of business on the expiration date, unexercised warrants will become void.
Holders of the warrants may
exercise the warrants by delivering the warrant certificate representing the warrants to be exercised together with specified information,
and paying the required amount to the warrant agent in immediately available funds, as provided in the applicable prospectus supplement.
We will set forth on the reverse side of the warrant certificate and in the applicable prospectus supplement the information that the
holder of the warrant will be required to deliver to the warrant agent.
Upon receipt of the required
payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other
office indicated in the applicable prospectus supplement, we will issue and deliver the securities purchasable upon such exercise. If
fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue a new warrant certificate for
the remaining amount of warrants. If we so indicate in the applicable prospectus supplement, holders of the warrants may surrender securities
as all or part of the exercise price for warrants.
Enforceability of Rights by Holders of Warrants
Each warrant agent will act
solely as our agent under the applicable warrant agreement and will not assume any obligation or relationship of agency or trust with
any holder of any warrant. A single bank or trust company may act as warrant agent for more than one issue of warrants. A warrant agent
will have no duty or responsibility in case of any default by us under the applicable warrant agreement or warrant, including any duty
or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a warrant may, without
the consent of the related warrant agent or the holder of any other warrant, enforce by appropriate legal action its right to exercise,
and receive the securities purchasable upon exercise of, its warrants.
DESCRIPTION OF UNITS
We may issue units comprised
of one or more of the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of
the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of
a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit
may not be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may
describe:
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the designation and terms of the units and of the securities comprising the units, including whether and
under what circumstances those securities may be held or transferred separately;
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any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities
comprising the units;
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the terms of the unit agreement governing the units;
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United States federal income tax considerations relevant to the units; and
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whether the units will be issued in fully registered global form.
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This summary of certain general
terms of units and any summary description of units in the applicable prospectus supplement do not purport to be complete and are qualified
in their entirety by reference to all provisions of the applicable unit agreement and, if applicable, collateral arrangements and depositary
arrangements relating to such units. The forms of the unit agreements and other documents relating to a particular issue of units will
be filed with the SEC each time we issue units, and you should read those documents for provisions that may be important to you.
PLAN OF DISTRIBUTION
We may sell the securities
offered by this prospectus from time to time in one or more transactions, including without limitation:
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directly to one or more purchasers;
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in "at the market offerings" to or through a market maker or into an existing trading market,
or a securities exchange or otherwise;
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to or through underwriters, brokers or dealers; or
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through a combination of any of these methods.
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A distribution of the securities
offered by this prospectus may also be effected through the issuance of derivative securities, including without limitation, warrants,
subscriptions, exchangeable securities, forward delivery contracts and the writing of options.
In addition, the manner in
which we may sell some or all of the securities covered by this prospectus includes, without limitation, through:
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a block trade in which a broker-dealer will attempt to sell as agent, but may position or resell a portion
of the block, as principal, in order to facilitate the transaction;
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purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account;
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ordinary brokerage transactions and transactions in which a broker solicits purchasers; or
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privately negotiated transactions.
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We may also enter
into hedging transactions. For example, we may:
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enter into transactions with a broker-dealer or affiliate thereof in connection with which such broker-dealer
or affiliate will engage in short sales of the Common Stock pursuant to this prospectus, in which case such broker-dealer or affiliate
may use shares of Common Stock received from us to close out its short positions;
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sell securities short and redeliver such shares to close out our short positions;
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enter into option or other types of transactions that require us to deliver Common Stock to a broker-dealer
or an affiliate thereof, who will then resell or transfer the Common Stock under this prospectus; or
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loan or pledge the Common Stock to a broker-dealer or an affiliate thereof, who may sell the loaned shares
or, in an event of default in the case of a pledge, sell the pledged shares pursuant to this prospectus.
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In addition, we may enter
into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus to third parties in privately
negotiated transactions. In connection with such a transaction, the third parties may sell securities covered by and pursuant to this
prospectus and an applicable prospectus supplement or other offering materials, as the case may be. If so, the third party may use securities
borrowed from us or others to settle such sales and may use securities received from us to close out any related short
positions. We may also loan or pledge securities covered by this prospectus and an applicable prospectus supplement to third parties,
who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged securities pursuant to this prospectus
and the applicable prospectus supplement or other offering materials, as the case may be.
A prospectus supplement with
respect to each offering of securities will state the terms of the offering of the securities, including:
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the terms of the offering;
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the name or names of any underwriters or agents and the amounts of securities underwritten or purchased
by each of them, if any;
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the public offering price or purchase price of the securities and the net proceeds to be received by us
from the sale;
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any delayed delivery arrangements;
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any underwriting discounts or agency fees and other items constituting underwriters' or agents' compensation;
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any discounts or concessions allowed or reallowed or paid to dealers; and
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any securities exchange or markets on which the securities may be listed.
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The offer and sale of the
securities described in this prospectus by us, the underwriters or the third parties described above may be effected from time to time
in one or more transactions, including privately negotiated transactions, either:
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at a fixed price or prices, which may be changed;
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at market prices prevailing at the time of sale, including in "at the market offerings";
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at prices related to the prevailing market prices; or
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General
Any public offering price
and any discounts, commissions, concessions or other items constituting compensation allowed or reallowed or paid to underwriters, dealers,
agents or remarketing firms may be changed from time to time. Underwriters, dealers, agents and remarketing firms that participate in
the distribution of the offered securities may be "underwriters" as defined in the Securities Act. Any discounts or commissions
they receive from us and any profits they receive on the resale of the offered securities may be treated as underwriting discounts and
commissions under the Securities Act. We will identify any underwriters, agents or dealers and describe their commissions, fees or discounts
in the applicable prospectus supplement or other offering materials, as the case may be.
Underwriters and Agents
If underwriters are used in
a sale, they will acquire the offered securities for their own account. The underwriters may resell the offered securities in one or more
transactions, including negotiated transactions. These sales may be made at a fixed public offering price or prices, which may be changed,
at market prices prevailing at the time of the sale, at prices related to such prevailing market price or at negotiated prices. We may
offer the securities to the public through an underwriting syndicate or through a single underwriter. The underwriters
in any particular offering will be mentioned in the applicable prospectus supplement or other offering materials, as the case may be.
Unless otherwise specified
in connection with any particular offering of securities, the obligations of the underwriters to purchase the offered securities will
be subject to certain conditions contained in an underwriting agreement that we will enter into with the underwriters at the time of the
sale to them. The underwriters will be obligated to purchase all of the securities of the series offered if any of the securities are
purchased, unless otherwise specified in connection with any particular offering of securities. Any initial offering price and any discounts
or concessions allowed, reallowed or paid to dealers may be changed from time to time.
We may designate agents to
sell the offered securities. Unless otherwise specified in connection with any particular offering of securities, the agents will agree
to use their best efforts to solicit purchases for the period of their appointment. We may also sell the offered securities to one or
more remarketing firms, acting as principals for their own accounts or as agents for us. These firms will remarket the offered securities
upon purchasing them in accordance with a redemption or repayment pursuant to the terms of the offered securities. A prospectus supplement
or other offering materials, as the case may be, will identify any remarketing firm and will describe the terms of its agreement, if any,
with us and its compensation.
In connection with offerings
made through underwriters or agents, we may enter into agreements with such underwriters or agents pursuant to which we receive our outstanding
securities in consideration for the securities being offered to the public for cash. In connection with these arrangements, the underwriters
or agents may also sell securities covered by this prospectus to hedge their positions in these outstanding securities, including in short
sale transactions. If so, the underwriters or agents may use the securities received from us under these arrangements to close out any
related open borrowings of securities.
Dealers
We may sell the offered securities
to dealers as principals. We may negotiate and pay dealers' commissions, discounts or concessions for their services. The dealer may then
resell such securities to the public either at varying prices to be determined by the dealer or at a fixed offering price agreed to with
us at the time of resale. Dealers engaged by us may allow other dealers to participate in resales.
Direct Sales
We may choose to sell the
offered securities directly to multiple purchasers or a single purchaser. In this case, no underwriters or agents would be involved.
Institutional Purchasers
We may authorize agents, dealers
or underwriters to solicit certain institutional investors to purchase offered securities on a delayed delivery basis pursuant to delayed
delivery contracts providing for payment and delivery on a specified future date. The applicable prospectus supplement or other offering
materials, as the case may be, will provide the details of any such arrangement, including the offering price and commissions payable
on the solicitations.
We will enter into such delayed
contracts only with institutional purchasers that we approve. These institutions may include commercial and savings banks, insurance companies,
pension funds, investment companies and educational and charitable institutions.
Indemnification; Other Relationships
We may have agreements with
agents, underwriters, dealers and remarketing firms to indemnify them against certain civil liabilities, including liabilities under the
Securities Act. Agents, underwriters, dealers and remarketing firms, and their affiliates, may engage in transactions with, or perform
services for, us in the ordinary course of business. This includes commercial banking and investment banking transactions.
Market-Making, Stabilization and Other Transactions
There is currently no market
for any of the offered securities, other than our Common Stock which is listed on The Nasdaq Capital Market. If the offered securities
are traded after their initial issuance, they may trade at a discount from their initial offering price, depending upon prevailing interest
rates, the market for similar securities and other factors. While it is possible that an underwriter could inform us that it intends to
make a market in the offered securities, such underwriter would not be obligated to do so, and any such market-making could be discontinued
at any time without notice. Therefore, no assurance can be given as to whether an active trading market will develop for the offered securities.
We have no current plans for listing of the debt securities or preferred stock on any securities exchange or quotation system; any such
listing with respect to any particular debt securities or preferred stock will be described in the applicable prospectus supplement or
other offering materials, as the case may be.
In connection with any offering
of Common Stock, the underwriters may purchase and sell shares of Common Stock in the open market. These transactions may include short
sales, syndicate covering transactions and stabilizing transactions. Short sales involve syndicate sales of Common Stock in excess of
the number of shares to be purchased by the underwriters in the offering, which creates a syndicate short position. "Covered"
short sales are sales of shares made in an amount up to the number of shares represented by the underwriters' over-allotment option. In
determining the source of shares to close out the covered syndicate short position, the underwriters will consider, among other things,
the price of shares available for purchase in the open market as compared to the price at which they may purchase shares through the over-allotment
option. Transactions to close out the covered syndicate short involve either purchases of the Common Stock in the open market after the
distribution has been completed or the exercise of the over-allotment option. The underwriters may also make "naked" short sales
of shares in excess of the over-allotment option. The underwriters must close out any naked short position by purchasing shares of Common
Stock in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward
pressure on the price of the shares in the open market after pricing that could adversely affect investors who purchase in the offering.
Stabilizing transactions consist of bids for or purchases of shares in the open market while the offering is in progress for the purpose
of pegging, fixing or maintaining the price of the securities.
In connection with any offering,
the underwriters may also engage in penalty bids. Penalty bids permit the underwriters to reclaim a selling concession from a syndicate
member when the securities originally sold by the syndicate member are purchased in a syndicate covering transaction to cover syndicate
short positions. Stabilizing transactions, syndicate covering transactions and penalty bids may cause the price of the securities to be
higher than it would be in the absence of these transactions. The underwriters may, if they commence these transactions, discontinue them
at any time.
LEGAL MATTERS
Unless otherwise specified
in the applicable prospectus supplement, the validity of the securities offered hereby will be passed upon for us by Mintz Levin Cohn
Ferris Glovsky and Popeo, P.C. ("Mintz Levin"). Certain other legal matters will also be passed upon for us by Mintz Levin.
If legal matters in connection with offerings made by this prospectus are passed on by counsel for the underwriters, dealers or agents,
if any, that counsel will be named in the applicable prospectus supplement.
EXPERTS
The audited financial statements
incorporated by reference in this prospectus and elsewhere in the registration statement have been incorporated by reference in reliance
upon the report of Grant Thornton LLP, independent registered public accountants, upon the authority of said firm as experts in accounting
and auditing.
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
We incorporate by reference
into this prospectus the documents listed below (excluding any portions of such documents that have been "furnished" but not
"filed" for purposes of the Exchange Act):
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Our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February
25, 2021, including the information specifically incorporated by reference into the Annual Report on Form 10-K from our definitive proxy
statement for the 2021 Annual Meeting of Stockholders;
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The description of our common stock set forth in our Registration Statement on Form 8-A, filed with the
SEC on August 2, 2013 (including any amendment or report filed with the SEC for the purpose of updating such description).
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We also incorporate by reference
into this prospectus all documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on
such form that are related to such items) that are filed by us with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange
Act (i) after the date of the registration statement of which this prospectus forms a part and prior to effectiveness of the registration
statement, and (ii) after the date of this prospectus but prior to the termination of the offering. These documents include periodic reports,
such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as proxy statements. Any
such filings shall be deemed to be incorporated by reference and to be a part of this prospectus from the respective dates of filing of
those documents. The SEC file number for each document incorporated by reference is 1-33650.
We will provide to each person,
including any beneficial owner, to whom a prospectus is delivered, copies of these filings, excluding all exhibits unless an exhibit has
been specifically incorporated by reference in such filings, at no cost, upon written or oral request made to:
Caladrius Biosciences, Inc.
110 Allen Road, 2nd Floor
Basking Ridge, NJ 07920
Attn: Todd C. Girolamo
WHERE YOU CAN FIND MORE INFORMATION
We have filed a registration
statement on Form S-3 of which this prospectus is a part with the SEC under the Securities Act of 1933. This prospectus omits
some information and exhibits included in the registration statement, copies of which may be obtained upon payment of a fee prescribed
by the Commission or may be examined free of charge at the principal office of the SEC in Washington, DC. You may also access our Form
S-3 registration statement on the SEC’s website as discussed below.
We are subject to the informational
requirements of the Securities Exchange Act of 1934 and in accordance therewith file reports, proxy statements and other information
with the SEC. The reports, proxy statements and other information filed by us with the SEC can be inspected and copied at the Public Reference
Room maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. Copies of filings can be obtained from the Public Reference
Room maintained by the SEC by calling the SEC at 1-800-SEC-0330. In addition, the Commission maintains a website that contains reports,
proxy and informational statements and other information filed electronically with the SEC at http://www.sec.gov.
You may request, orally or
in writing, a copy of these documents, which will be provided to you at no cost, by contacting Todd C. Girolamo, Esq., SVP, General Counsel
and Corporate Secretary, Caladrius Biosciences, Inc., 110 Allen Road, 2nd Floor, Basking Ridge, NJ 07920, telephone (212) 935-3000.
You should rely only on the
information contained in this prospectus, including information incorporated by reference as described above, or any prospectus supplement
that we have specifically referred you to. We have not authorized anyone else to provide you with different information. You should not
assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the front
of those documents or that any document incorporated by reference is accurate as of any date other than its filing date. You should not
consider this prospectus to be an offer or solicitation relating to the securities in any jurisdiction in which such an offer or solicitation
relating to the securities is not authorized. Furthermore, you should not consider this prospectus to be an offer or solicitation relating
to the securities if the person making the offer or solicitation is not qualified to do so, or if it is unlawful for you to receive such
an offer or solicitation.
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