Creative Medical Technology Holdings Announces $1.85 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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[{"type":"text","content":"PHOENIX, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Creative Medical Technology Holdings, Inc. (“Creative Medical Technology” or the “Company”) (NASDAQ: CELZ), a leading commercial-stage biotechnology company focused on a regenerative approach to immunotherapy, endocrinology, urology, gynecology, and orthopedics, announced today that it 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. The securities in the offering described above (but not the warrants issued in the concurrent private placement or the shares of common stock underlying the warrants) are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-282512) previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on October 15, 2024. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the registered direct offering that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport B...

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