Calidi Biotherapeutics Announces Closing of $6.9 Million Underwritten Public Offering and Full Exercise of Underwriters’ Over-Allotment Option

Core Viewpoint - Calidi Biotherapeutics, Inc. has successfully closed a public offering, raising gross proceeds of $6.9 million, which includes the full exercise of the underwriters' over-allotment option [1][2]. Group 1: Offering Details - The company sold a total of 1,922,764 common stock units, each consisting of one share of common stock and one Series I warrant, and 1,528,000 pre-funded warrant units, each consisting of one pre-funded warrant and one Series I warrant [2]. - The price per Common Stock Unit was set at $2.00, while the Pre-Funded Unit was priced at $1.999 [2]. - The Series I warrants have an exercise price of $2.00 per share, are exercisable upon issuance, and will expire five years from issuance [2]. Group 2: Management and Regulatory Information - Ladenburg Thalmann & Co. Inc. served as the sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as a co-manager [3]. - The securities were offered under a registration statement on Form S-1, which was declared effective by the SEC on August 20, 2025 [4]. Group 3: Company Overview - Calidi Biotherapeutics is a clinical-stage immuno-oncology company focused on developing targeted therapies that can deliver genetic medicines to distal disease sites [6]. - The company's proprietary Redtail platform utilizes an engineered enveloped oncolytic virus designed for systemic delivery and targeting of metastatic sites, aiming to enhance the effectiveness of virotherapy [6]. - The lead candidate from the Redtail platform is currently in IND-enabling studies and targets non-small cell lung cancer, ovarian cancer, and other tumor types with significant unmet medical needs [7].