Calidi Biotherapeutics Secures $4.6 Million Through Warrant Exercise to Advance Cancer Treatment Research

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology firm, has successfully negotiated a definitive agreement for the immediate cash exercise of outstanding warrants, securing approximately $4.6 million in gross proceeds. This strategic financial maneuver involves the issuance of 6,595,000 shares of common stock at a discounted rate of $0.70 per share. In a reciprocal arrangement, Calidi is set to issue new unregistered warrants matching the share count, which will become exercisable in six months at the same price and remain valid for five and a half years. Ladenburg Thalmann & Co. Inc. has been appointed as the exclusive placement agent for this significant transaction.

The capital generated from this warrant exercise is designated to bolster Calidi's ongoing clinical and pre-clinical initiatives, operational needs, and working capital. This infusion of funds is pivotal for the company as it advances its proprietary stem cell-based technologies. These platforms are engineered to optimize the delivery of oncolytic viruses, targeting a range of oncology conditions such as high-grade gliomas and solid tumors. Calidi's groundbreaking methodology seeks to refine the effectiveness and safety profile of cancer therapies, offering a beacon of hope for individuals battling metastatic disease. For further information on this development, visit https://ibn.fm/duWdz.