Creative Medical Technology Holdings, Inc. announced it has entered into agreements with certain warrant holders for the immediate exercise of outstanding warrants. These warrants, originally issued in October 2024, were for the purchase of up to an aggregate of 837,104 shares of common stock at an exercise price of $4.42 per share.
The aggregate gross proceeds from the exercise of these existing warrants are expected to total approximately $3.7 million, before deducting financial advisory fees. In consideration for the immediate cash exercise, the company will issue new unregistered warrants to purchase up to 1,674,208 shares of common stock. These new warrants will have an exercise price of $3.75 per share and will be exercisable for five years following shareholder approval.
The company intends to use the net proceeds from this transaction for working capital and general corporate purposes. This capital infusion provides crucial liquidity to support ongoing operations and the advancement of Creative Medical Technology Holdings' clinical development programs.
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