secwatch.observer — SEC 8-K summary
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Issuer:     Calidi Biotherapeutics, Inc. (CLDI)
CIK:        0001855485
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001493152-24-009678
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/0001493152-24-009678-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855485/000149315224009678/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009678

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer