---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-009678"
form_type: "8-K"
ticker: "CLDI"
cik: "0001855485"
company_name: "Calidi Biotherapeutics, Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:24:55.138692+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Calidi settles investor dispute with $3.5M in convertible notes; resolves pre-merger funding claims

## Summary
- Investor purchased $2.0M convertible note for cash; Calidi issued $1.5M note for settlement of all claims related to Supplemental Funding Agreements.
- Convertible notes bear 10% semiannual interest, mature March 8, 2028; conversion price at 94% of 10-day VWAP (initial and reset).
- All outstanding obligations under Supplemental Funding Agreements (August 2023) terminated; mutual release of claims executed.
- On March 11, 2024, parties amended the $1.5M note to remove a wire-closing condition; securities issued privately under Rule 506(b).
- Calidi also reimburses investor up to $15,000 in legal fees for note structuring.

## SEC filing metadata
- accession: 0001493152-24-009678
- form_type: 8-K
- ticker: CLDI
- cik: 0001855485
- company_name: Calidi Biotherapeutics, Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/0001493152-24-009678-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-009678
- JSON: https://secwatch.observer/filing/0001493152-24-009678.json
- Plain text: https://secwatch.observer/filing/0001493152-24-009678.txt

## Key facts
- Debt Financings
  Calidi Biotherapeutics, Inc. amended convertible notes of $1.5 million with an investor at 10.0% per annum maturing March 8, 2028.
  - Instrument: convertible notes
  - Principal: $1.5 million
  - Counterparty: an investor
  - Rate: 10.0% per annum
  - Maturity: March 8, 2028
  - Event: amendment
  source text: On March 11, 2024, the Company entered into an amendment to the $1.5 million convertible note (the "Note Amendment"), which amended Section 1(c) pertaining to conditions to closing, by deleting Section 1(c)(iii) in its entirety, which previously provided that the Principal Amount be wired to the Company’s bank account.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/0001493152-24-009678-index.htm
- Debt Financings
  Calidi Biotherapeutics, Inc. incurred convertible notes of $1.5 million with an investor at 10.0% per annum maturing March 8, 2028.
  - Instrument: convertible notes
  - Principal: $1.5 million
  - Counterparty: an investor
  - Rate: 10.0% per annum
  - Maturity: March 8, 2028
  - Event: incurrence
  source text: the Company issued to the investor a $1.5 million convertible note in consideration for the settlement of all claims related to the Supplemental Funding Agreements
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/0001493152-24-009678-index.htm
- Debt Financings
  Calidi Biotherapeutics, Inc. incurred convertible notes of $2.0 million with an investor at 10.0% per annum maturing March 8, 2028.
  - Instrument: convertible notes
  - Principal: $2.0 million
  - Counterparty: an investor
  - Rate: 10.0% per annum
  - Maturity: March 8, 2028
  - Event: incurrence
  source text: the investor purchased a $2.0 million convertible note from the Company for cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/0001493152-24-009678-index.htm

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