---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-032729"
form_type: "8-K"
ticker: "CLDI"
cik: "0001855485"
company_name: "Calidi Biotherapeutics, Inc."
filed_at: "2023-02-10T23:59:59+00:00"
generated_at: "2026-06-19T18:23:38.117825+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FLAG amends merger with Calidi; Continuation Shares to be issued at closing without price targets

## Summary
- Up to 2,000,000 Continuation Shares to be issued pro rata to non-redeeming FLAG public stockholders at closing.
- For every 100,000 shares not redeemed, FLAG issues 48,450 Continuation Shares, capped at 2M total.
- Amendment removes prior price-target condition; Continuation Shares now issued automatically at deal close.
- Amendment signed Feb 9, 2023; business combination with Calidi Biotherapeutics remains pending.

## SEC filing metadata
- accession: 0001193125-23-032729
- form_type: 8-K
- ticker: CLDI
- cik: 0001855485
- company_name: Calidi Biotherapeutics, Inc.
- filed_at: 2023-02-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855485/000119312523032729/0001193125-23-032729-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855485/000119312523032729/d442631d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-032729
- JSON: https://secwatch.observer/filing/0001193125-23-032729.json
- Plain text: https://secwatch.observer/filing/0001193125-23-032729.txt

## Key facts
- Material Agreements
  Calidi Biotherapeutics, Inc. amended Amendment No. 1 to the Merger Agreement with First Light Acquisition Group, Inc. (FLAG), Calidi Biotherapeutics, Inc., First Light Acquisition Group, LLC (as Purchaser Representative), and Allan Camaisa (as Seller Representative) (effective 2023-02-09).
  - Action: amendment
  - Agreement: merger
  - Counterparty: First Light Acquisition Group, Inc. (FLAG), Calidi Biotherapeutics, Inc., First Light Acquisition Group, LLC (as Purchaser Representative), and Allan Camaisa (as Seller Representative)
  - Effective: 2023-02-09
  source text: On February 9, 2023, FLAG, Calidi, the Purchaser Representative and the Seller Representative entered into Amendment No. 1 to the Merger Agreement (the “ Amendment ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855485/000119312523032729/0001193125-23-032729-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.