Calidi Biotherapeutics raises $1M via convertible note with Ingodwe Trust

Calidi Biotherapeutics, Inc.

Issued 12% simple interest one-year convertible promissory note for $1,000,000 principal.
Conversion at 10% discount to 10-day VWAP; optional warrant for 50% of conversion shares at 120% of conversion price.
Proceeds used for working capital; mandatory conversion if public offering occurs before maturity.
Lender Ingodwe Trust is an accredited investor; securities issued under Rule 506(b) exemption.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Calidi Biotherapeutics, Inc. entered into Convertible Promissory Note Purchase Agreement with Accredited Investor (the Lender) valued at $1,000,000 (effective 2024-01-26).

Action: entry
Agreement: notes offering
Counterparty: Accredited Investor (the Lender)
Value: $1,000,000
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, Calidi Biotherapeutics, Inc. (the “Company”) entered into a convertible promissory note purchase agreement (the “Purchase Agreement”) with an Accredited Investor (the “Lender”), for a loan in the principal amount of One Million dollars ($1,000,000), the proceeds of which will be used by the Company for working capital purpose (the “Loan”).

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Calidi Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-004619

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