Calidi Biotherapeutics (CLDI) Announces Proposed Public Offering

Calidi Biotherapeutics, Inc. (NYSE AMERICAN: CLDI) (“Calidi” or the “Company”), a clinical-stage biotechnology company developing a new generation of targeted immunotherapies, today announced that it intends to offer to sell shares of its common stock (and/or pre-funded warrants (“Pre-Funded Warrants”) in lieu thereof) in an public offering. All of the shares of common stock (and/or Pre-funded Warrants) are to be sold by the Company.

Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent for the offerings.

The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Calidi intends to use the net proceeds from the offering for working capital and for general corporate purposes.

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