May 26, 2020 8:22am

While warrants have an exercise price equal to $2.0625 per share, are exercisable immediately upon issuance and will expire five and one-half years from the issuance date.

The gross proceeds from the offering are expected to be approximately $4.3 million.

CLBS entered into definitive agreements with several institutional and accredited investors for the issuance and sale of an aggregate of 2,084,850 shares of its common stock, at a purchase price of $2.0625 per share, in a registered direct offering priced at-the-market under Nasdaq rules.

CLBS has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 1,042,425 shares of common stock. The closing of the offering is expected to occur on or about May 28, 2020, subject to the satisfaction of customary closing conditions.


H.C. Wainwright & Co. is acting as the exclusive lead placement agent for the offering.


The Bottom Line: a "cheap" date of only 4.3 million, a pre-market decline and yet another Wainwright deal. The five and one-half years warrants have an exercise price of $2.0625/share.