secwatch.observer — SEC 8-K summary
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Issuer:     Calidi Biotherapeutics, Inc. (CLDI)
CIK:        0001855485
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001493152-24-015390
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855485/000149315224015390/0001493152-24-015390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855485/000149315224015390/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015390

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