BASKING RIDGE, N.J., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (Nasdaq: CLBS), a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse disease, today announced that it has closed on its previously announced sale of an aggregate of 12,500,000 shares of its common stock and warrants to purchase up to an aggregate of 6,250,000 shares of common stock to several institutional and accredited investors, at a purchase price of $2.00 per share and associated warrant, in a private placement priced at-the-market under Nasdaq rules.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The warrants have an exercise price of $2.90 per share, are exercisable immediately and have a term of five and one-half years.

The gross proceeds from the offering were approximately $25.0 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.

About Caladrius Biosciences

Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse disease. We are developing first-in-class cell therapy products based on the finely tuned mechanisms for self-repair that exist in the human body. Our technology leverages and enables these mechanisms in the form of specific cells, using formulations and modes of delivery unique to each medical indication.