Creative Medical Technology Announces $17 Million Private Placement Priced At-The-Market Under Nasdaq Rules

PHOENIX, April 29, 2022 /PRNewswire/ -- 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, urology, neurology, and orthopedics, today announced that it has entered into a securities purchase agreement with several institutional investors to purchase 7,555,556 shares of common stock (or common stock equivalents) in a private placement priced at-the-market under Nasdaq rules. The Company will also issue to the investors unregistered warrants to purchase up to an aggregate of 15,111,112 shares of common stock. The purchase price for one share of common stock (or common stock equivalent) and one warrant to purchase one share of common stock is $2.25. The warrants have an exercise price of $2.00 per share, will be immediately exercisable, and will expire five years from issuance. The gross proceeds from the private placement are expected to be approximately $17 million. The offering is expected to close on or about May 3, 2022, subject to satisfaction of customary closing conditions.

Roth Capital Partners is acting as the exclusive placement agent for the offering.

Creative Medical Technology intends to use the net proceeds received from the offering for (i) a clinical study intended to support the safety and efficacy of its StemSpine® Regenerative Stem Cell Procedure for Treatment of Degenerative Disc Disease, (ii) continued development of its ImmCelz^TM immunotherapy platform for the treatment of multiple indications, including stroke, (iii) marketing of its CaverStem® and FemCelz® programs for the treatment of male and female sexual dysfunction, (iv) the development of other products and therapies, including OvaStem^TM for the treatment of premature ovarian failure and (v) working capital and general corporate purposes using any remaining amounts.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

Under an agreement with the investors, the Company is required to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of the common stock and the shares of common stock underlying the warrants in the private placement no later than 15 days after today and to use best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 30 days following the date of the agreement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Creative Medical Technology Holdings

Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company specializing in stem cell technology in the fields of immunotherapy, urology, neurology, and orthopedics. 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 and, therefore, 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.

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SOURCE Creative Medical Technology Holdings, Inc.