Calidi Biotherapeutics, Inc.(CLDI), a biotechnology firm, announced the pricing of its underwritten public offering of 10.52 million units at a price of $0.50 per unit. Each unit has one share of common stock or a pre-funded warrant.
And each pre-funded unit is being sold to the public at the public offering price per unit, less the $0.001 nominal exercise price for each pre-funded warrant. The gross proceeds from this offering are expected to be approximately $5.2 million.
Calidi intends to use the net proceeds from the offering for working capital and for general corporate purposes.
The warrants collectively are: one 6-month warrant to purchase one share of common stock, one 12-month warrant to purchase one share of common stock, one 12-month warrant to purchase one share of common stock, and one five-year warrant to purchase one share of common stock.
Also, the company has granted the underwriter a 45-day option to purchase up to an additional 1.575 million shares and/or warrants to purchase up to 1.575 million shares of common stock for each series of warrants described above, or up to an aggregate of 4.725 million shares or any combination thereof, solely to cover over-allotments, if any, at the public offering price.
The warrants will be immediately exercisable and will entitle the holder to purchase one share of common stock or a pre-funded warrant in lieu thereof at an exercise price of $0.50 per share.
This offering is expected to close on or about March 9, 2026, subject to the satisfaction of customary closing conditions.
In addition, the company has agreed that certain existing warrants held by investors in the offering to purchase up to an aggregate of 2.973 million company shares that were previously issued to the investors will be amended, effective upon the closing of the offering, so that such warrants will have a reduced exercise price of $0.50 per share.
Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager for the offering.
Calidi 's proprietary Redtail platform features an engineered enveloped oncolytic virus designed for systemic delivery and targeting of metastatic sites.
CLD-401 is the lead candidate from the Redtail platform, currently in IND-enabling studies, targets non-small cell lung cancer, head and neck cancer, and other tumour types with high unmet medical need.
The stock closed Friday's trade at $0.36, down 53.14%.In the overnight market, CLDI is down 1.22%, at $0.35.
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