Creative Medical Technology Holdings Announces Agreements for Exercise of Warrants for $3.7 Million Gross Proceeds
March 06 2025 - 7:10AM
Creative Medical Technology Holdings, Inc.,
(Nasdaq: CELZ) (the “Company”), a leading biotechnology innovator
in regenerative medicine, today announced it has entered into
agreements with certain holders of its existing warrants for the
immediate exercise of certain outstanding warrants to purchase up
to an aggregate of 837,104 shares of common stock of the Company
originally issued in October 2024 at their current exercise price
of $4.42 per share. The shares of common stock issuable upon
exercise of the existing warrants are registered pursuant to an
effective registration statement on Form S-1 (File No. 333-283091).
The aggregate gross proceeds from the exercise of the existing
warrants is expected to total approximately $3.7 million, before
deducting financial advisory fees.
Roth Capital Partners is acting as the Company’s
financial advisor for this transaction.
In consideration for the immediate exercise of
the existing warrants for cash, the Company will issue new
unregistered warrants to purchase shares of common stock. The new
warrants will be exercisable for an aggregate of up to 1,674,208
shares of common stock, at an exercise price of $3.75 per share and
will be exercisable for a period of five years following
shareholder approval of the exercise of the warrants.
The transaction is expected to close on or about
March 6, 2025, subject to satisfaction of customary closing
conditions. The Company intends to use the net proceeds from the
offering for working capital and general corporate purposes.
The new warrants described above were offered in
a private placement pursuant to an applicable exemption from the
registration requirements of the Securities Act of 1933, as amended
(the “1933 Act”) and, along with the shares of common stock
issuable upon their exercise, have not been registered under the
1933 Act, and may not be offered or sold in the United States
absent registration with the Securities and Exchange Commission
(“SEC”) or an applicable exemption from such registration
requirements. The Company has agreed to file a registration
statement with the SEC covering the resale of the shares of common
stock issuable upon exercise of the new warrants.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Creative Medical Technology
Holdings, Inc.
Creative Medical Technology Holdings, Inc. is a
biotechnology company dedicated to the advancement of identifying
and translating novel biological therapeutics in the fields of
immunotherapy, endocrinology, urology, gynecology, and orthopedics
and is traded on NASDAQ under the ticker symbol CELZ. For further
information about the Company, please visit
www.creativemedicaltechnology.com.
Forward-Looking Statements
This news release may contain forward-looking
statements, including but not limited to comments regarding the
timing and content of upcoming clinical trials and laboratory
results, marketing efforts, funding, etc. Forward-looking
statements address future events and conditions, which may involve
inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements. See
the periodic and other reports filed by Creative Medical Technology
Holdings, Inc. with the Securities and Exchange Commission and
available on the Commission's website at www.sec.gov.
Contact:
Creative Medical Technology Holdings,
Inc.IR@CreativeMedicalTechnology.com
Investor Relations:Devin Sullivan, Managing DirectorThe Equity
Group Inc.dsullivan@equityny.com
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