Calidi Biotherapeutics prices $6 million public offering

Calidi Biotherapeutics Inc. (NYSE AMERICAN: CLDI) announced the pricing of an underwritten public offering for gross proceeds of $6 million before deducting underwriting commissions and offering expenses.

The offering comprises 1,472,764 common stock units priced at $2.00 each and 1,528,000 pre-funded warrant units priced at $1.999 each. Each common stock unit consists of one share of common stock and one Series I warrant to purchase one share of common stock. Each pre-funded unit includes one pre-funded warrant to purchase one share of common stock and one Series I warrant to purchase one share of common stock.

The Series I warrants carry an exercise price of $2.00 per share, become exercisable upon issuance, and expire five years from the issuance date. The warrants are fixed-priced and do not contain variable price features.

"We are extremely pleased to have priced this transaction despite difficult market conditions," said Eric Poma, Chief Executive Officer of Calidi Biotherapeutics. "This transaction included participation from current shareholders and new investors as well as management and board members."

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

Calidi Biotherapeutics operates as a clinical-stage biotechnology company developing targeted therapies designed to deliver genetic medicines to disease sites.

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