Document:

Exhibit 10.12

 Exhibit 10.12 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR IN ACCORDANCE WITH APPLICABLE LAW. 
 WARRANT TO PURCHASE STOCK 
  

			
	Corporation:	  	ALDAGEN, INC., a Delaware corporation
	Number of Shares:	  	            [*]            
	Class of Stock:	  	Series B Preferred Stock
	Initial Exercise Price:	  	$1.00 per share
	Issue Date:	  	            [*]            
	Expiration Date:	  	            [*]            

 [*] On March 21, 2006, the Company issued to Square 1 Bank warrants to purchase 75,000 shares of
Series B Preferred Stock, and such warrants have an expiration date of March 21, 2013. On August 30, 2006, the Company issued to Square 1 Bank warrants to purchase 75,000 shares of Series B Preferred Stock, and such warrants have an expiration date
of August 30, 2013. On December 4, 2006, the Company issued to Square 1 Bank warrants to purchase 45,000 shares of Series B Preferred Stock, and such warrants have an expiration date of December 4, 2013. 
 THIS WARRANT CERTIFIES THAT, for good and valuable
consideration, the receipt of which is hereby acknowledged, SQUARE 1 BANK or its assignee (“Holder”) is entitled to purchase the
number of fully paid and nonassessable shares of the class of securities (the “Shares”) of the corporation (the “Company”) at the initial exercise price per Share (the
“Warrant Price”) all as set forth above and as adjusted pursuant to Article 2 of this warrant, subject to the provisions and upon the terms and conditions set forth in this warrant. 
 ARTICLE 1 
 EXERCISE 
 1.1 Method of Exercise. Holder may exercise this warrant by delivering this warrant and a
duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.2, Holder shall also deliver to the Company a
check for the aggregate Warrant Price for the Shares being purchased. 
 1.2 Conversion Right. In lieu of exercising this
warrant as specified in Section 1.1, Holder may from time to time convert this warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise
issuable upon exercise of this warrant minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Section 1.4. 
 1.3 Intentionally Omitted. 
 1.4 Fair Market Value. If the Shares are traded regularly in a public market, the fair market value of the Shares shall be the closing price of the Shares (or the closing price of the
Company’s stock into which the Shares are convertible) reported for the business day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not regularly traded in a public market, the Board of Directors of
the Company shall determine fair market value in its reasonable good faith judgment. 
 1.5 Delivery of Certificate and New
Warrant. Promptly after Holder exercises or converts this warrant, the Company shall deliver to Holder certificates for the Shares acquired and, if this warrant has not been fully exercised or converted and has not expired, a new warrant
representing the Shares not so acquired. 
 1.6 Replacement of Warrants. On receipt of evidence reasonably satisfactory
to the Company of the loss, theft, destruction or mutilation of this warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of
mutilation, on surrender and cancellation of this warrant, the Company at its expense shall execute and deliver, in lieu of this warrant, a new warrant of like tenor. 
  

 1 

 1.7 Repurchase on Sale, Merger, or Consolidation of the Company. 
 1.7.1 “Acquisition.” For the purpose of this warrant, “Acquisition” means (a) any sale,
license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company, or (b) any reorganization, consolidation, merger or sale of the voting securities of the Company or any other transaction
where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction. 
 1.7.2 Assumption of Warrant. If upon the closing of any Acquisition the successor entity assumes the obligations of this warrant,
then this warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this warrant as if such Shares were outstanding on the record date for the
Acquisition and subsequent closing. The Warrant Price shall be adjusted accordingly. The Company shall use reasonable efforts to cause the surviving corporation to assume the obligations of this warrant. 
 1.7.3 Nonassumption. If upon the closing of any Acquisition the successor entity does not assume the obligations of this warrant and
Holder has not otherwise exercised this warrant in full, then Holder shall have the option either to (a) deem this warrant to have been automatically converted pursuant to Section 1.2 and thereafter Holder shall participate in the
Acquisition on the same terms as other holders of the same class of securities of the Company; or (b) require the Company to purchase this warrant for cash upon the closing of the Acquisition for an amount per Share equal to one (1) times
the Warrant Price. 
 ARTICLE 2 
 ADJUSTMENTS TO THE SHARES 
 2.1 Stock Dividends, Splits, Etc. If the
Company declares or pays a dividend on its common stock payable in common stock, or other securities, or subdivides the outstanding common stock into a greater amount of common stock, then upon exercise of this warrant, for each Share acquired,
Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 
 2.2 Reclassification, Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a
change of the number and/or class of the securities issuable upon exercise or conversion of this warrant, Holder shall be entitled to receive, upon exercise or conversion of this warrant, the number and kind of securities and property that Holder
would have received for the Shares if this warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall include any automatic conversion of the outstanding or issuable securities of
the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing of a registered public offering of the Company’s common stock. The Company or its
successor shall promptly issue to Holder a new warrant for such new securities or other property. The new warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article
2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications,
exchanges, substitutions, or other events. 
 2.3 Adjustments for Combinations, Etc. If the outstanding Shares are
combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a
greater number of shares, the Warrant Price shall be proportionately decreased. 
 2.4 Adjustments for Diluting
Issuances. In the event of the issuance (a “Diluting Issuance”) by the Company after the Issue Date of securities at a price per share less than the Warrant Price, then the number of shares of common stock issuable upon conversion of
the Shares shall be adjusted in accordance with those provisions of the Company’s Certificate of Incorporation that apply to Diluting Issuances. 
  

 2 

 2.5 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the
Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written
request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 
 2.6 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the Number of Shares to be issued shall be rounded down to the nearest whole Share. If a
fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder amount computed by multiplying the fractional interest by the fair market value of a full
Share. 
 ARTICLE 3 
 REPRESENTATIONS AND COVENANTS OF THE COMPANY 
 3.1 Representations and
Warranties. The Company hereby represents and warrants to the Holder as follows: 
 (a) The initial Warrant Price referenced
on the first page of this warrant is not greater than the lowest price at which the Company has sold its Series B Preferred Stock. 
 (b) All Shares which may be issued upon the exercise of the purchase right represented by this warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid
and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 
 (c) The Company’s capitalization table attached to this warrant is true and complete as of the Issue Date. 
 3.2 Notice of Certain Events. The Company shall provide Holder with not less than 10 days prior written notice, including a description of the material facts surrounding, any of the following
events: (a) declaration of any dividend or distribution upon its common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) offering for subscription pro rata to the holders of any
class or series of its stock any additional shares of stock of any class or series or other rights; (c) effecting any reclassification or recapitalization of common stock; or (d) the merger or consolidation with or into any other
corporation, or sale, lease, license, or conveyance of all or substantially all of its assets, or liquidation, dissolution or winding up. 
 3.3 Information Rights. So long as the Holder holds this warrant and/or any of the Shares, the Company shall deliver to the Holder (a) promptly after mailing, copies of all communiques to the
shareholders of the Company, (b) within ninety (90) days after the end of each fiscal year of the Company, the annual audited financial statements of the Company certified by independent public accountants of recognized standing and
(c) if requested by Holder, within forty-five (45) days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial statements. 
 3.4 Registration Under Securities Act of 1933, as amended. The Company agrees that, solely with respect to Section 2.3 of that
certain Amended and Restated Investor Rights Agreement among the Company and other persons dated as of March 4, 2003, as may be amended from time to time, the Shares or, if the Shares are convertible into common stock of the Company, such
common stock, shall be “Registrable Securities”, and Holder shall be a “Holder”. 
  

 3 

 ARTICLE 4 
 REPRESENTATIONS OF THE HOLDER 
 4.1 Representations
and Warranties. The Holder hereby represents and warrants to the Company as follows: 
 (a) This warrant and the
Shares issuable upon exercise thereof are being acquired for its own account, for investment and not with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Act. 
 (b) The Holder understands that this warrant and the Shares have not been registered under the Act by reason of their issuance in a
transaction exempt from the registration and prospectus delivery requirements of the Act pursuant to Section 4(2) thereof, and that they must be held by the Holder indefinitely, and that the Holder must therefore bear the economic risk of such
investment indefinitely, unless a disposition thereof is registered under the Act or is otherwise exempted from such registration. 
 (c) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of acquiring and holding this warrant and the Shares and of protecting its interests in
connection therewith. 
 (d) The Holder is able to bear the economic risk of acquiring the Shares pursuant to the terms
of this Warrant. 
 ARTICLE 5 
 MISCELLANEOUS 
 5.1 Term: Exercise Upon Expiration. This warrant is
exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically
exercised on the Expiration Date by “cashless” conversion pursuant to Section 1.2. 
 5.2 Legends.
This warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR IN ACCORDANCE WITH APPLICABLE LAW. 
 5.3 Compliance with Securities Laws on Transfer. This warrant and the Shares issuable upon exercise of this warrant (and the securities issuable, directly or indirectly, upon conversion of
the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee. The Company shall not require Holder to provide an opinion of
counsel if the transfer is to an affiliate of Holder or if there is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144 (d) and (e) in
reasonable detail, the selling broker represents that it has compiled with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 
 5.4 Transfer Procedure. Subject to the provisions of Section 4.3, Holder may transfer all or part of this warrant or the Shares issuable upon exercise of this warrant (or the securities
issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the warrant being transferred setting forth the name, address and taxpayer identification number of the transferee and
surrendering this warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable). No surrender or reissuance shall be required if the transfer is to an affiliate of Holder. 
  

 4 

 5.5 Notices. All notices and other communications from the Company to the Holder, or
vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may be, in writing
by the Company or such Holder from time to time. All notices to the Holder shall be addressed as follows: 
 Square 1 Bank

 Attn: Warrant Administrator 
 406 Blackwell Street, Suite 240 
 Crowe Building 
 Durham, NC 27701 
 5.6 Amendments. This warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is
sought. 
 5.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions
of this warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 5.8 Governing Law. This warrant shall be governed by and construed in accordance with the laws of the State of North Carolina,
without giving effect to its principles regarding conflicts of law. 
  

			
	ALDAGEN, INC.
		
	By:	 	 /s/ Edward L. Field

	Name:	 	Edward L. Field
	Title:	 	President

  

 5 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby
elects to purchase                      shares of the
                     stock of ALDAGEN, INC. pursuant to the terms of the attached warrant, and tenders herewith payment of the purchase
price of such shares in full. 
 2. The undersigned hereby elects to convert the attached warrant into shares in the
manner specified in the warrant. This conversion is exercised with respect                      to of the shares covered by the warrant.

 [Strike paragraph that does not apply.] 
 3. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified below: 
 Square 1 Bank 
 Attn: Warrant Administrator 
 406 Blackwell Street, Suite 240 
 Crowe Building 
 Durham, NC 27701 
 4. The undersigned represents it is acquiring the shares solely for its own account and not
as a nominee for any other party and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws. 
  

	
	SQUARE 1 BANK or Registered Assignee
	
	  

	(Signature)
	
	 [DATE]

	(Date)Exhibit 10.13

 Exhibit 10.13 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN
JURISDICTION. THIS WARRANT AND SUCH UNDERLYING SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION
PROVISIONS OF THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS. 
 ALDAGEN,
INC. 
 AMENDED AND RESTATED PREFERRED
STOCK PURCHASE WARRANT 
 This Amended and Restated
Preferred Stock Purchase Warrant (the “Warrant”) is issued as of this the 15th day of December, 2006, by ALDAGEN, INC., a Delaware corporation (the “Company”), to
                                        ,
or permitted assigns (the “Holder”). 
 1. Issuance of Warrant; Term; Price. 
 1.1. Issuance. In consideration of the funding of a loan in the amount of
$                (the “Loan”), which Loan converted into shares of the Company’s Series C Preferred Stock, $0.001 par value per share (the
“Series C Preferred Stock”) on December 15, 2006, the Company hereby grants to Holder the right to subscribe and purchase                 
shares of Series C Preferred Stock. The shares of securities for which this Warrant may be exercisable from time to time shall be referred to herein as the “Warrant Stock”. This Warrant amends and restates and replaces and
supersedes in their entirety those certain Preferred Stock Purchase Warrants previously granted to Holder on                 . 
 1.2 Exercisability. This Warrant shall become exercisable for Warrant Stock on December 15, 2006 (the “Exercise
Commencement Date”). 
 1.3 Term. The shares of Warrant Stock issuable upon exercise of this Warrant are
hereinafter referred to as the “Shares.” This Warrant shall be exercisable at any time and from time to time in whole or in part from the Exercise Commencement Date until the date five (5) years from such date. 
 1.4 Exercise Price. Subject to adjustment as hereinafter provided, the exercise price (the “Warrant Price”) per
share for which all or any of the Shares may be purchased pursuant to the terms of this Warrant shall be equal to $0.7278 per share, as adjusted for stock splits, stock dividends, recapitalizations and similar events. 
 2. Adjustment of Warrant Price, Number and Kind of Shares. The Warrant Price and the number and kind of securities issuable upon the
exercise of this Warrant shall be subject to adjustment from time to time, and the Company agrees to provide ten (10) days written notice upon the happening of certain events, as follows. 
  

 1 

 2.1. Dividends in Stock Adjustment. In case at any time or from time to time on or
after the date hereof the holders of the Series C Preferred Stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the
determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional securities or other property (other than cash) of the Company by way of dividend or distribution (except for distributions
specifically provided for below in Section 2.3) then, and in each case, the holder of this Warrant shall, upon the exercise hereof, be entitled to receive, in addition to the number of shares of Warrant Stock receivable thereupon, and without
payment of any additional consideration therefor, the amount of such other or additional securities or other property (other than cash) of the Company which such holder would hold on the date of such exercise had it been the holder of record of such
stock on the date hereof and had thereafter, during the period from the date hereof to and including the date of such exercise, retained such shares and/or all other additional securities or other property receivable by it as aforesaid during such
period, giving effect to all adjustments called for during such period by this Section 2. 
 2.2. Reclassification or
Reorganization Adjustment. In case of any changes in the class or kind of securities issuable upon exercise of this Warrant or any reclassification or change of the outstanding securities of the Company or of any reorganization of the Company
(or any other corporation the stock or securities of which are at the time receivable upon the exercise of this Warrant) on or after the date hereof, then and in each such case the Company shall give the holder of this Warrant at least twenty
(20) days notice of the proposed effective date of such transaction, and the holder of this Warrant, upon the exercise hereof at any time after the consummation of such reclassification, change or reorganization, shall be entitled to receive,
in lieu of the stock or other securities and property receivable upon the exercise hereof prior to such consummation, the stock or other securities or property to which such holder would have been entitled upon such consummation if such holder had
exercised this Warrant immediately prior thereto, and the Warrant Price therefore shall be appropriately adjusted, all subject to further adjustment as provided in this Section 2. 
 2.3. Stock Splits and Reverse Stock Splits. If at any time on or after the date hereof the Company shall split, subdivide or
otherwise change its outstanding shares of any securities receivable upon exercise of this Warrant into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision shall thereby be proportionately reduced and the
number of shares receivable upon exercise of this Warrant shall thereby be proportionately increased; and, conversely, if at any time on or after the date hereof the outstanding number of shares of any securities receivable upon exercise of this
Warrant shall be combined into a smaller number of shares, the Warrant Price in effect immediately prior to such combination shall thereby be proportionately increased and the number of shares receivable upon exercise of this Warrant shall thereby
be proportionately decreased, all subject to further adjustment as provided in this Section 2. 
  

 2 

 2.4. Conversion or Redemption of Warrant Stock. If at the time of any exercise of
this Warrant there are no other shares of shares of Warrant Stock that would otherwise be receivable upon exercise of this Warrant (such shares having been converted or redeemed), this Warrant shall be exercisable for Common Stock in the same
amounts, for the same prices and on the same terms, as though the Warrant had been exercised for shares of the Warrant Stock and immediately converted into shares of Common Stock. 
 2.5 Other Impairment. The Company will not, by amendment of its Certificate of Incorporation or Bylaws or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist
in the carrying out of all such terms and conditions and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder against impairment. 
 3. No Fractional Shares. No fractional shares of Warrant Stock will be issued in connection with any subscription hereunder. In lieu
of any fractional shares that would otherwise be issuable, the Company shall pay cash equal to the product of such fraction multiplied by the fair market value of one share of Warrant Stock on the date of exercise, as determined in good faith by the
Company’s Board of Directors. 
 4. No Stockholder Rights. This Warrant as such shall not entitle its holder to any
of the rights of a stockholder of the Company until the holder has exercised this Warrant in accordance with Section 6 or Section 7 hereof. 
 5. Reservation of Stock. The Company covenants that during the period this Warrant is exercisable, the Company will reserve from its authorized and unissued Warrant Stock a sufficient number of
shares to provide for the issuance of Warrant Stock upon the exercise of this Warrant. The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates
to execute and issue the necessary certificates for shares of Warrant Stock upon the exercise of this Warrant. 
 6. Exercise
of Warrant. This Warrant may be exercised by Holder by the surrender of this Warrant at the principal office of the Company, accompanied by payment in full of the purchase price of the shares purchased thereby, as described above. This Warrant
shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above, and the person or entity entitled to receive the shares or other securities issuable upon such exercise
shall be treated for all purposes as the holder of such shares of record as of the close of business on such date. As promptly as practicable, the Company shall issue and deliver to the person or entity entitled to receive the same a certificate or
certificates for the number of full shares of Warrant Stock issuable upon such exercise, together with cash in lieu of any fraction of a share as provided above. The shares of Warrant Stock issuable upon exercise hereof shall, upon their issuance,
be fully paid and nonassessable. If this Warrant shall be exercised in part only, the Company shall, at the time of delivery of the certificate representing the Shares or other securities in respect of which this Warrant has been

  

 3 

 
exercised, deliver to the Holder a new Warrant evidencing the right to purchase the remaining Shares or other securities purchasable under this Warrant, which new warrant shall, in all other
respects, be identical to this Warrant. 
 7. Net Issue Election. 
 7.1. Right to Convert. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder shall
have the right to convert this Warrant or any portion hereof (the “Conversion Right”) into shares of Common Stock or Warrant Stock as provided in this Section 7. Upon exercise of the Conversion Right with respect to a
particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder of any cash or other consideration) that number of shares of Common Stock
or Warrant Stock equal to the quotient obtained by dividing (x) the value of this Warrant (or the specified portion hereof) on the Conversion Date (as defined in subsection 7.2 hereof), which value shall be determined by subtracting
(A) the aggregate Warrant Price of the Converted Warrant Shares immediately prior to the exercise of the Conversion Right from (B) the aggregate fair market value of the Converted Warrant Shares issuable upon exercise of this Warrant (or
the specified portion hereof) on the Conversion Date (as herein defined) by (y) the fair market value of one share of Warrant Stock on the Conversion Date (as herein defined). No fractional shares shall be issuable upon exercise of the
Conversion Right, and if the number of shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting
fractional share on the Conversion Date (as herein defined). 
 7.2. Method of Exercise. The Conversion Right may be
exercised by the Holder by the surrender of this Warrant at the principal office of the Company together with a written statement specifying that the Holder thereby intends to exercise the Conversion Right and indicating the number of shares subject
to this Warrant that are being surrendered (referred to in subsection 7.1 hereof as the Converted Warrant Shares) in exercise of the Conversion Right. Such conversion shall be effective upon such surrender of this Warrant (the “Conversion
Date”). Certificates for the shares of Common Stock or Warrant Stock issuable upon exercise of the Conversion Right (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Conversion Date and
shall be delivered to the Holder immediately following the Conversion Date, or, if requested at the time of surrender of this Warrant, held for pick-up by the Holder at the Company’s principal office. 
 7.3. Determination of Fair Market Value. For purposes of this Section 7, fair market value (the “Market Price”)
of a share of Common Stock or Warrant Stock as of a particular date (the “Determination Date”) shall mean the average of the closing prices of such security’s sales on the principal securities exchanges on which such security
may at the time be listed, or, if there has been no sales on any such exchange on any day, the average of the highest bid and lowest asked prices on all such exchanges at the end of such day, or, if on any day such security is not so listed, the
average of the last sale prices quoted in the Nasdaq System, or if on any day such security is not quoted in the Nasdaq System, the average of the highest bid and lowest asked prices on such day in the domestic over-the-counter market as reported by
the National Quotation Bureau, Incorporated, or any similar successor organization, in each such

  

 4 

 
case averaged over a period of five (5) days consisting of the day prior to the day as of which “Market Price” is being determined and the five (5) consecutive business days
prior to such day. If at any time such security is not listed on any securities exchange or quoted in the Nasdaq System or the over-the-counter market, the “Market Price” shall be the fair value thereof as determined in good faith by the
Company’s Board of Directors. 
 8. Certificate of Adjustment. Whenever the Warrant Price or number or type of
securities issuable upon exercise of this Warrant is adjusted, as herein provided, the Company shall promptly deliver to the record holder of this Warrant a certificate of an officer of the Company setting forth the nature of such adjustment and a
brief statement of the facts requiring such adjustment. 
 9. Notice of Proposed Transfers. This Warrant is transferable
by the Holder hereof subject to compliance with this Section 9. Prior to any proposed transfer of this Warrant or the shares of Warrant Stock received on the exercise of this Warrant (the “Securities”), unless there is in
effect a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), covering the proposed transfer, the Holder thereof shall give written notice to the Company of such Holder’s intention to
effect such transfer. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail, and shall, if the Company so requests, be accompanied (except in transactions in compliance with Rule 144) by either
(i) an unqualified written opinion of legal counsel who shall be reasonably satisfactory to the Company addressed to the Company and reasonably satisfactory in form and substance to the Company’s counsel, to the effect that the proposed
transfer of the Securities may be effected without registration under the Securities Act and any applicable state securities laws, or (ii) a “no action” letter from the Securities Exchange Commission (the
“Commission”) to the effect that the transfer of such Securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the Holder of the
Securities shall be entitled to transfer the Securities in accordance with the terms of the notice delivered by the Holder to the Company; provided, however, no such registration statement or opinion of counsel shall be necessary for a
transfer by a Holder to any affiliate of such Holder, or a transfer by a Holder which is a partnership to a partner of such partnership or a retired partner of such partnership who retires after the date hereof, or to the estate of any such partner
or retired partner or the transfer by gift, will or intestate succession of any partner to his spouse or lineal descendants or ancestors, if the transferee agrees in writing to be subject to the terms hereof to the same extent as if such transferee
were the original Holder hereunder. Each certificate evidencing the Securities transferred as above provided shall bear the appropriate restrictive legend set forth above, except that such certificate shall not bear such restrictive legend if in the
opinion of counsel for the Company such legend is not required in order to establish compliance with any provisions of the Securities Act. 
 10. Replacement of Warrants. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of the Warrant, and in the case of any such
loss, theft or destruction of the Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company, and reimbursement to the Company of all reasonable expenses incidental thereto, and upon
surrender and cancellation of the Warrant if mutilated, the Company will execute and deliver, in lieu thereof, a new Warrant of like tenor. 
  

 5 

 11. Miscellaneous. This Warrant shall be governed by the laws of the State of North
Carolina. The headings in this Warrant are for purposes of convenience of reference only, and shall not be deemed to constitute a part hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or
enforceability of any other provisions. All notices and other communications from the Company to the holder of this Warrant shall be given in writing and shall be deemed effectively given as provided in the Note and Warrant Purchase Agreement among
the Company, the Holder and the Purchasers listed therein, dated March 23, 2005 (the “Purchase Agreement”). 
 12. Taxes. The Company shall pay all issue taxes and other governmental charges (but not including any income taxes of a Holder) that may be imposed in respect of the issuance or delivery of the Shares or any portion thereof.

 13. Amendment. Any term of this Warrant may be amended or waived with the written consent of the Company and the
holders of Warrants representing a majority of the shares of Warrant Stock issuable upon exercise of the then outstanding unexercised warrants issued under the Purchase Agreement (the “Bridge Warrants”); provided,
however, that any such amendment or waiver that disproportionately affects any of the holders of the then outstanding unexercised Bridge Warrants shall require the written consent of all such holders. Any amendment or waiver effected in
accordance with this Section 13 shall be binding upon each holder of any Bridge Warrant, each future holder of all such Bridge Warrants and the Company, and the Company shall promptly give notice to all holders of outstanding Bridge Warrants of
any amendment or waiver effected in accordance with this Section 13. 
 14. Remedies. In the event of any default or
threatened default by the Company in the performance of or observance with any of the terms of this Warrant, it is agreed that remedies at law are not and will not be adequate for the Holder and that such terms may be specifically enforced by a
decree for the specific performance of any agreement contained herein or by an injunction against a violation of any of the terms hereof or otherwise. 
 15. Facsimile Signature. This Warrant may be executed by the Company in facsimile form and upon receipt by the Holder of such faxed executed copy of this Warrant, this Warrant shall be binding upon
and enforceable against the Company in accordance with its terms. The Company shall promptly forward to the Holder an original of the facsimile signed copy of this Warrant previously delivered to Holder. 
 16. Qualifying Public Offering. If the Company shall effect a firm commitment underwritten public offering of shares of Common Stock
which results in the conversion of the Preferred Stock into Common Stock pursuant to the Company’s Certificate of Incorporation in effect immediately prior to such offering, then, effective upon such conversion, this Warrant shall change from
the right to purchase shares of Series C Preferred Stock to the right to purchase shares of Common Stock, and the Holder shall thereupon have the right to purchase, at a total price equal to that payable upon the exercise of this Warrant in full,
the number of shares

  

 6 

 
of Common Stock which would have been receivable by the Holder upon the exercise of this Warrant for shares of Series C Preferred Stock immediately prior to such conversion of such shares of
Series C Preferred Stock into shares of Common Stock, and in such event appropriate provisions shall be made with respect to the rights and interest of the Holder to the end that the provisions hereof (including, without limitation, the provisions
for the adjustment of the Purchase Price and of the number of shares purchasable upon exercise of this Warrant and the provisions relating to the net issue election) shall thereafter be applicable to any shares of Common Stock deliverable upon the
exercise hereof. 
 [THE NEXT PAGE IS THE SIGNATURE PAGE] 
  

 7 

 IN WITNESS WHEREOF, the undersigned officer of the Company has set his hands as of the date
first above written. 
  

			
	ALDAGEN, INC.
		
	By:	 	 /s/ Edward L. Field

	Name:	 	Edward L. Field
	Title:	 	President and Chief Operating Officer

  

 8 

 ALDAGEN, INC. 
 AMENDED AND RESTATED SERIES C WARRANTS 
 The Series C
Preferred Stock Purchase Warrants represented by this form are substantially identical in all material respects except as to the details below. Accordingly, pursuant to Instruction 2 to Item 601(b) of Regulation S-K, we have filed the form of
warrant herewith. 
  

											
	Name	  	Number of      
Exercise      
Shares      	 	  	Amount of        
Loan
        	 	  	Date(s) of Previous      
Warrant(s)      
Superseded      	 
	 Aurora Enrichment Fund,
LLC
	  	205,792	   	  	$	599,101.35	   	  	March 23, 2005	   
	 Harbinger/Aurora Venture Fund, L.L.C.

	  	42,081	  	  	$	122,507.54	  	  	November 1, 2005	  
	 Harbinger/Aurora QP Venture Fund, L.L.C.

	  	60,814	  	  	$	177,043.13	  	  	November 1, 2005	  
	 W. Lowry Caudill
	  	30,869	  	  	$	89,865.20	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Alfred G. Childers
	  	30,869	  	  	$	89,865.20	  	  	April 6, 2005 and
 November 1, 2005
	  
   

	 Intersouth Affiliates V,
L.P.
	  	26,986	  	  	$	78,561.96	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Intersouth Partners V.
L.P.
	  	590,390	  	  	$	1,718,742.09	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Jonathan M. Lawrie
	  	12,366	  	  	$	36,000.00	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Piedmont Angel Network
LLC
	  	40,901	  	  	$	119,071.39	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Tall Oaks StemCo Partners,
LP
	  	36,014	  	  	$	104,843.49	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 The Trelys Funds,
L.P.
	  	231,516	  	  	$	673,989.02	  	  	April 6, 2005 and
 November 1, 2005
	  
   

	 Village Venture Partners Fund, L.P.

	  	16,739	  	  	$	48,730.30	  	  	March 23, 2005 and
 November 1, 2005
	  
   

	 Village Venture Partners Fund A, L.P.

	  	1,268	  	  	$	3,690.31	  	  	March 23, 2005 and
 November 1, 2005
	  
   

  

 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]