Calidi Biotherapeutics closes $7.5M public offering of 4.44M shares at $1.69/share

Calidi Biotherapeutics, Inc.

Gross proceeds ~$7.5M from 4,437,869 shares at $1.69; closed Nov 15, 2024.
Net proceeds for working capital, general corporate purposes, and pre-clinical/clinical trials.
Placement agent Ladenburg Thalmann gets 8% cash fee, 1% mgmt fee, and warrants for 221,893 shares at $2.1125.
Lock-ups: company 15 days, insiders 90 days; CEO may sell up to 10K shares after 25 days for tax planning.
Offering under effective S-3 shelf; proceeds expected to extend cash runway for clinical-stage biotech.

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