Calidi Biotherapeutics Inc. Secures $4.6 Million Through Warrant Exercise Agreement

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotech company, has announced a definitive agreement for the immediate cash exercise of outstanding warrants, resulting in approximately $4.6 million in gross proceeds. The agreement involves 6,595,000 shares of common stock at a reduced price of $0.70 per share. In return, Calidi will issue new unregistered warrants with the same share count, exercisable in six months at $0.70 and valid for five and a half years. Ladenburg Thalmann & Co. Inc. is acting as the exclusive placement agent for this transaction. The net proceeds from this agreement are earmarked for supporting Calidi's clinical and pre-clinical programs, alongside operational expenses and working capital needs. This financial move underscores the company's commitment to advancing its targeted therapies for genetic medicine delivery, particularly in the field of immuno-oncology.