Calidi Biotherapeutics Raises $5.2M in $0.50 Unit Offering as Shares Plunge 35%
Calidi Biotherapeutics priced 10.52M units at $0.50 to raise $5.2M, granting a 45-day overallotment for 1.575M shares and amending 2.97M warrants to a $0.50 exercise price. Shares plunged 35% to $0.50 after hours, near their 52-week low and reflecting a 92% drop over the past year.
1. Offering Terms
Calidi Biotherapeutics offered 10,519,631 units at $0.50 each, consisting of one share of common stock or a pre-funded warrant, one six-month warrant, one 12-month warrant and one five-year warrant. Gross proceeds are expected to total $5.2M before fees, with closing targeted for March 9, 2026.
2. Warrant Amendments and Over-Allotment Option
The company granted underwriters a 45-day option to purchase up to 1,575,000 additional shares or warrants, potentially raising further proceeds. Existing warrants covering 2,973,585 shares will be amended to reduce their exercise price to $0.50 upon closing.
3. Stock Price Impact
Shares plunged 35% after hours to $0.50 following the offering announcement, trading near a 52-week low. The share price has declined approximately 92% over the past twelve months, with a current market capitalization of about $5.55M.