BASKING RIDGE, N.J., April 27, 2020 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (Nasdaq: CLBS), 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 2,162,166 shares of its common stock to several institutional and accredited investors, at a purchase price of $2.3125 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 1,081,083 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 $2.25 per share, are exercisable immediately upon issuance and will expire five and one-half years from the issuance date.

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.

About Caladrius Biosciences

Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse, not manage, cardiovascular disease. We are developing a first- in-class cell therapy product that is based on the notion that our body contains finely tuned mechanisms for self-repair. Our technology leverages and enables these mechanisms in the form of specific cells, using formulations and modes of delivery unique to each medical indication.