Caladrius Biosciences Closes $4.3 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules

BASKING RIDGE, N.J., May 28, 2020 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (Nasdaq: CLBS) (“Caladrius” or the “Company”), a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse, not manage, disease, today announced that it has closed on its previously announced sale of an aggregate of 2,084,850 shares of its common stock to several institutional and accredited investors, at a purchase price of $2.0625 per share, in a registered direct offering priced at-the-market under Nasdaq rules. Under the purchase agreement, Caladrius has also issued to the investors unregistered warrants to purchase up to an aggregate of 1,042,425 shares of common stock.

H.C. Wainwright & Co. acted as the exclusive lead placement agent for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as co-placement agent for the offering.

The 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 were approximately $4.3 million. The Company currently intends to use the net proceeds from the offering for working capital and general corporate purposes, including the advancement of its CD34+ technology-based clinical programs.

The shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) were offered and sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-226319), including an accompanying prospectus previously filed with, and declared effective by the Securities and Exchange Commission (the “SEC”) on August 2, 2018. The offering of the shares of common stock was made only by means of a prospectus supplement that formed a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering has been filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [e-mail].