FAQ on Calidi Biotherapeutics Inc.'s 1-for-12 Reverse Stock Split

What is a reverse stock split?

A reverse stock split is a corporate action where a company reduces the number of its outstanding shares to increase the share price proportionally, without affecting the company’s market capitalization.

Why is Calidi Biotherapeutics implementing a 1-for-12 reverse stock split?

The reverse stock split is intended to optimize market dynamics, expand investor appeal, and align trading conditions with shareholder interests.

When will the reverse stock split take effect?

The reverse stock split will take effect on August 5, 2025.

How will the reverse stock split affect shareholders?

Every 12 pre-split shares will convert into one post-split share, with fractional shares rounded up to the nearest whole share at the participant level. The action will proportionately adjust outstanding options, warrants, and equity plan shares.

Will the reverse stock split affect the par value or the number of authorized shares?

No, the reverse stock split will not affect the par value or the number of authorized shares.

Where can I find more information about Calidi Biotherapeutics?

More information about Calidi Biotherapeutics can be found on their website at www.calidibio.com or in the company’s newsroom at https://ibn.fm/CLDI.

What is Calidi Biotherapeutics’ focus?

Calidi Biotherapeutics is a clinical-stage immuno-oncology company focused on developing targeted genetic medicine delivery platforms to arm the immune system to fight cancer.

Who approved the reverse stock split?

The reverse stock split was approved by shareholders on July 9 and ratified by the board on July 11.

What are the implications of this reverse stock split for investors?

The reverse stock split is aimed at making the stock more appealing to investors by optimizing market dynamics and aligning trading conditions with shareholder interests, potentially leading to increased investor interest and liquidity.