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

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company, has entered into a definitive agreement for the immediate cash exercise of outstanding warrants, resulting in approximately $4.6 million in gross proceeds. This financial move involves the exercise of 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, which will be exercisable in six months at the same price and remain valid for five and a half years.

The proceeds from this transaction are earmarked for supporting Calidi's clinical and pre-clinical programs, alongside general operations and working capital. Ladenburg Thalmann & Co. Inc. is acting as the exclusive placement agent for this agreement. This funding is a significant step for Calidi as it continues to develop its proprietary stem cell-based platforms aimed at enhancing the efficacy and safety of oncolytic virus treatments for cancer.

Calidi Biotherapeutics is at the forefront of immuno-oncology, with a focus on creating targeted therapies that leverage the body's immune system to combat cancer. Its innovative approach involves using allogeneic stem cells to deliver oncolytic viruses directly to tumors, offering a promising avenue for treating high-grade gliomas and solid tumors. The company's efforts represent a potential breakthrough in cancer treatment, aiming to improve patient outcomes through advanced therapeutic strategies.

For further details on this announcement, visit https://ibn.fm/duWdz.