Calidi Biotherapeutics Raises $6M, Issues 12.1M Warrants at $0.50 Strike
Calidi Biotherapeutics closed a $6.0 million underwritten public offering by selling 12.1 million shares and fully exercising its 1.575 million overallotment option. It concurrently issued 12.1 million Series J, K and L warrants at a $0.50 strike with five-year, one-year and six-month terms and two-tier reset triggers.
1. Offering Details
Calidi Biotherapeutics closed its underwritten public offering, raising $6.0 million through sale of 12.094631 million common shares and pre-funded warrants, including full exercise of the 1.575 million-share overallotment option.
2. Warrant Terms
The company issued Series J, K and L warrants to purchase 12.094631 million shares exercisable at $0.50 per share, with terms expiring in five years, one year and six months respectively, each featuring two staged exercise-price reset provisions on day 45 and after any reverse stock split in fiscal 2026.
3. Financial Implications
Proceeds bolster the Redtail platform’s IND-enabling studies and CLD-401 development, extending cash runway; potential $12 million tranche warrant financing within one year may further dilute existing equity.