FAQ: Calidi Biotherapeutics' $6.9 Million Public Offering and Company Overview

What is the main announcement in this content?

Calidi Biotherapeutics closed a $6.9 million underwritten public offering, including the full exercise of the underwriters’ over-allotment option, with gross proceeds before deducting commissions and expenses.

How much money did Calidi Biotherapeutics raise in this offering?

The company raised $6.9 million in gross proceeds before deducting underwriting commissions and offering expenses.

What securities were sold in this public offering?

The company sold 1,922,764 common stock units (each with one share and one Series I warrant) and 1,528,000 pre-funded warrant units (each with one pre-funded warrant and one Series I warrant), plus 450,000 common stock units under the over-allotment option.

What were the pricing details for the securities offered?

Common Stock Units were priced at $2.00 each, Pre-Funded Units were priced at $1.999 each, and the Series I warrants are exercisable immediately at $2.00 per share and expire five years from issuance.

Who managed this public offering for Calidi Biotherapeutics?

Ladenburg Thalmann & Co. Inc. acted as sole book-running manager, with Laidlaw & Company (U.K.) Ltd. serving as co-manager.

What type of company is Calidi Biotherapeutics and what do they develop?

Calidi Biotherapeutics is a clinical-stage immuno-oncology company developing targeted therapies that deliver genetic medicines to distal sites of disease using their proprietary Redtail platform featuring engineered enveloped oncolytic viruses.

What is Calidi’s lead candidate targeting and what stage is it in?

The lead candidate from the Redtail platform targets non-small cell lung cancer, ovarian cancer, and other tumor types with high unmet medical need, and is currently in IND-enabling studies.

Where can investors find more information about Calidi Biotherapeutics?

The latest news and updates relating to CLDI are available in the company’s newsroom at https://ibn.fm/CLDI, and the full press release can be viewed at https://ibn.fm/FEy8z.