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Creative Medical Prices $16 Mln Public Offering At $4.13

Creative Medical Technology Holdings, Inc. (CELZ) on Friday said it has priced its underwritten public offering of 3.87 million shares of common stock and accompanying warrants at a combined price of $4.13, with an expected close on or about December 7.

The aggregate gross proceeds from the offering are expected to total about $16 million, the Arizona-based company said. The warrants have a per share exercise price of $4.13, are exercisable immediately, and expire five years from the date of issuance.

As a result of the offering, the company's common stock will become listed on the Nasdaq Capital Market and will trade under the ticker symbol "CELZ" beginning December 3.

In addition, the company has granted to the underwriters of the offering a 45-day option to purchase up to 0.58 million additional shares or warrants of common stock.

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