Calidi Biotherapeutics closes $6.1M public offering of units with warrants; calls for reverse stock split vote

Calidi Biotherapeutics, Inc.

Closed public offering of 15,197,500 units at $0.40 each for ~$6.1M gross proceeds; units include common stock (or pre-funded warrants) and several tranches of warrants.
Series A, B, and C warrants have exercise price of $0.60 per share; Series A, B-1, C-1 warrants expire in 5 yrs, Series B in 12 months, Series C in 4 months.
Proceeds will fund working capital, pre-clinical/clinical trials, and repayment of convertible promissory notes totaling $1.6M.
Stockholder meeting must be held by ~July 2, 2024 (75 days post-closing) to vote on reverse stock split; officers/directors agreed to vote in favor.
Ladenburg Thalmann acted as placement agent; fees include 8% cash fee, 1% management fee, and warrants for 5% of shares at $0.66 exercise price.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Calidi Biotherapeutics, Inc. entered into Purchase Agreement with each purchaser identified on the signature pages thereto valued at aggregate gross proceeds of approximately $6.077 million (effective 2024-04-16).

Action: entry
Agreement: equity purchase
Counterparty: each purchaser identified on the signature pages thereto
Value: aggregate gross proceeds of approximately $6.077 million
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, Calidi Biotherapeutics, Inc. (“we,” “our,” or the “Company”) agreed to sell in a public offering an aggregate of 13,232,500 Common Stock Units and 1,965,000 Pre-Funded Warrant Units (“PFW Units”) at an effective combined purchase price of $0.40 per Common Stock Unit or PFW Unit for aggregate gross proceeds of approximately $6.077 million before deducting placement agent fees and offering expenses payable by the Company (the “Offering”).

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Calidi Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015390

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