EXHIBIT
5
ARNALL
GOLDEN GREGORY LLP
171
17TH
STREET, NW
SUITE
2100
ATLANTA,
GEORGIA 30363-1031
TELEPHONE
(404) 873-8500 – FACSIMILE (404) 873-8501
(404)
873-8500
(404)
873-8501
April 28,
2008
CryoLife,
Inc.
1655
Roberts Boulevard, N.W.
Kennesaw,
Georgia 30144
|
|
Re:
|
Registration Statement
on Form S-8
|
Ladies
and Gentlemen:
This opinion is rendered in connection
with the proposed issue and sale by CryoLife, Inc., a Florida corporation (the
"Company"), of up to 300,000 shares of the Company's Common Stock, $.01 par
value (the "Shares"), pursuant to stock options, restricted stock and restricted
stock units issued under the CryoLife, Inc. 2008 Non-Employee Directors Omnibus
Stock Plan (the “Plan”) upon the terms and conditions set forth in the
Registration Statement on Form S-8 (the “Registration Statement”) filed by the
Company with the Securities and Exchange Commission under the Securities Act of
1933, as amended (the “Act”) and the prospectus utilized in connection
therewith. We have acted as counsel for the Company in connection
with the issuance and sale of the Shares by the Company.
In rendering the opinion contained
herein, we have relied in part upon examination of the Company’s corporate
records, documents, certificates and other instruments and the examination of
such questions of law as we have considered necessary or appropriate for the
purpose of this opinion. Based upon the foregoing, we are of the
opinion that the Shares have been duly and validly authorized and the Shares
will be legally issued, fully paid and non-assessable, (a) when issued in the
manner contemplated by the terms of the Plan and pursuant to a current
prospectus in conformity with the Act, and (b) upon receipt by the
Company of payment therefor (assuming that such payment at all times exceeds the
par value thereof).
We consent to the filing of this
opinion as an exhibit to the Registration Statement. This consent is
not to be construed as an admission that we are a party whose consent is
required to be filed with the Registration Statement under the provisions of the
Act.
|
|
Sincerely,
|
|
|
|
|
|
|
|
|
/s/ ARNALL GOLDEN GREGORY
LLP
|
|
|
ARNALL
GOLDEN GREGORY LLP
|