Calidi amends $1.5M convertible note to allow payoff via registered offering participation

Calidi Biotherapeutics, Inc.

On April 14, 2024, amended a $1.5M convertible note issued to settle an unasserted claim.
If holder participates in a registered public offering on same terms as others, proceeds from its sale will repay the note.
Amendment incorporated by reference to Exhibit 10.51 of Form S-1 (No. 333-276741) filed April 15, 2024.

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. amended Amendment to Convertible Note and Settlement Agreement with an investor valued at $1.5 million convertible note (effective 2024-04-14).

Action: amendment
Agreement: settlement
Counterparty: an investor
Value: $1.5 million convertible note
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, the Company amended the Note to provide that if the holder thereof participates in a registered public offering, under the same terms and conditions as other investors, in the amount equal to the principal amount of the Note, the proceeds from the sale of securities to the promissory noteholder would be used to pay off the Note.

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Source: SEC EDGAR

accession 0001493152-24-015220

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