{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-004705","form_type":"8-K","ticker":"CLDI","cik":"0001855485","company_name":"Calidi Biotherapeutics, Inc.","filed_at":"2023-01-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.183863+00:00","generated_at":"2026-06-20T18:15:07.691189+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"FLAG SPAC to acquire Calidi Biotherapeutics in $250M business combination","bullets":["Equity value of Calidi set at $250M; consideration includes FLAG common stock and escalation shares tied to $12/$14/$16/$18 targets.","Up to 18M additional shares (4.5M per price target) issuable as escalation consideration to pre-merger Calidi stockholders.","Non-redeeming FLAG public stockholders eligible for up to 2M continuation shares pro rata upon price target achievement.","Closing requires minimum $15M cash; FLAG may raise up to $40M in PIPE investment and Calidi up to $40M in equity issuances."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-004705","json":"https://secwatch.observer/filing/0001193125-23-004705.json","markdown":"https://secwatch.observer/filing/0001193125-23-004705.md","text":"https://secwatch.observer/filing/0001193125-23-004705.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1855485/000119312523004705/0001193125-23-004705-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1855485/000119312523004705/d425996d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T18:15:07.691189+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"748df0e1281049f9bdcb948a6fe14532c2eaa88d","claim":"Calidi Biotherapeutics, Inc. entered into Agreement and Plan of Merger with First Light Acquisition Group, Inc., FLAG Merger Sub, Inc., First Light Acquisition Group, LLC, and Allan Camaisa valued at $250,000,000 (effective 2023-01-09).","evidence_excerpt":"On January 9, 2023, First Light Acquisition Group, Inc., a Delaware corporation (“ FLAG ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), by and among FLAG, FLAG Merger Sub, Inc., a Nevada corporation and a direct, wholly owned subsidiary of FLAG (“ Merger Sub ”), Calidi Biotherapeutics, Inc., a Nevada corporation (the “ Company ” or “” Calidi ”), First Light Acquisition Group, LLC, in the capacity as the representative of the stockholders of FLAG (the “ Sponsor ”) and Allan Camaisa, in the capacity as the representative of the stockholders to the Company.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1855485/000119312523004705/0001193125-23-004705-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"First Light Acquisition Group, Inc., FLAG Merger Sub, Inc., First Light Acquisition Group, LLC, and Allan Camaisa"},{"label":"Value","value":"$250,000,000"},{"label":"Effective","value":"2023-01-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}