Calidi Biotherapeutics Announces Pricing of $5.2 Million Underwritten Public Offering

Core Viewpoint - Calidi Biotherapeutics, Inc. has announced a public offering of 10,519,631 units, aiming to raise approximately $5.2 million for working capital and general corporate purposes [3][5]. Offering Details - Each unit consists of one share of common stock (or a pre-funded warrant), along with three types of warrants: a 6-month warrant, a 12-month warrant, and a 5-year warrant [1][6]. - The offering price is set at $0.50 per unit, with pre-funded units priced at the public offering price minus a nominal exercise price of $0.001 per share [3][6]. - The underwriter, Ladenburg Thalmann & Co. Inc., has a 45-day option to purchase up to an additional 1,575,000 shares or warrants to cover over-allotments [4]. Financial Implications - The gross proceeds from the offering are expected to be approximately $5.2 million before deducting underwriting discounts and commissions [3]. - The company has also agreed to amend existing warrants held by investors to reduce the exercise price to $0.50 per share upon closing of the offering [7]. Company Overview - Calidi Biotherapeutics is focused on developing targeted genetic medicines, utilizing its proprietary Redtail platform, which features an engineered enveloped oncolytic virus for systemic delivery to metastatic sites [10][11]. - The lead candidate, CLD-401, is currently in IND-enabling studies and targets non-small cell lung cancer and other high unmet medical need tumor types [11].