January 25, 2021 5:38pm
CLBS' 12.5 M share PP closes ... closing down -$0.10 or another -4.18% to $2.29
The warrants have an exercise price of $2.90 per share, are exercisable immediately and have a term of five and one-half years.
CLBS has entered into securities purchase agreements with certain institutional and accredited investors to raise $25 million through the issuance of an aggregate 12,500,000 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 6,250,000 shares of common stock, at a purchase price of $2.00 per share of common stock (or common stock equivalent in lieu thereof) and associated warrant in a private placement priced at-the-market under Nasdaq rules.
The closing of the private placement is expected to occur on or about January 25, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The Bottom Line: the question is ... WHAT will be at the short-term back-end to "prop-up" the share pricing post PP - nada?