Creative Medical to sell 418,552 shares at $4.42 in registered direct offering

Creative Medical Technology (CELZ) Holdings has entered into definitive securities purchase agreements with certain institutional investors for the purchase and sale of 418,552 shares of the Company’s common stock at an offering price of $4.42 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue warrants to purchase up to 837,104 shares of common stock. The warrants have an exercise price of $4.42 per share, will be exercisable upon stockholder approval of the exercisability of the warrants under Nasdaq rules and will have a term of five years following the initial date of exercise. The closing of the offerings is expected to occur on or about October 23, 2024, subject to the satisfaction of customary closing conditions. Roth Capital Partners is acting as the exclusive placement agent for the offerings. The gross proceeds to the Company from the offerings are expected to be approximately $1.85 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offerings for working capital and general corporate purposes.