Calidi Biotherapeutics closes $6.9 million public offering

Calidi Biotherapeutics Inc. (NYSE AMERICAN: CLDI) closed its underwritten public offering, raising $6.9 million in gross proceeds before deducting underwriting commissions and expenses, according to a company statement.

The San Diego-based clinical-stage biotechnology company sold 1,922,764 common stock units at $2.00 per unit and 1,528,000 pre-funded warrant units at $1.999 per unit. Each common stock unit includes one share of common stock and one Series I warrant to purchase one share of common stock. Pre-funded units consist of one pre-funded warrant and one Series I warrant.

The underwriters exercised their over-allotment option in full, purchasing an additional 450,000 common stock units. The Series I warrants have an exercise price of $2.00 per share, are exercisable immediately upon issuance, and expire five years from the issuance date.

Ladenburg Thalmann & Co. Inc. served as sole book-running manager for the offering, while Laidlaw & Company (U.K.) Ltd. acted as co-manager.

The securities were offered under a registration statement on Form S-1 that the Securities and Exchange Commission declared effective on August 20, 2025. A final prospectus was filed with the SEC on August 21, 2025.

Calidi develops targeted therapies designed to deliver genetic medicines to disease sites. The company's Redtail platform features an engineered enveloped oncolytic virus for systemic delivery and targeting of metastatic sites. The lead candidate from this platform is currently in IND-enabling studies targeting non-small cell lung cancer, ovarian cancer, and other tumor types.

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