Calidi Biotherapeutics (NYSE AMERICAN: CLDI) announced the pricing of its public offering on November 14, 2024, securing approximately $7.5 million in gross proceeds. The offering consists of 4,437,869 shares of common stock priced at $1.69 per share. This financial maneuver aims to bolster the company's resources for ongoing and future clinical trials, general corporate purposes, and working capital.
The offering is anticipated to close around November 15, 2024, contingent upon standard closing conditions. Ladenburg Thalmann & Co. Inc. is the exclusive placement agent for this offering.
Use of Proceeds
Calidi Biotherapeutics intends to allocate the net proceeds from this offering towards working capital, general corporate activities, and the funding of pre-clinical and clinical trials. This investment is expected to support the continued development of Calidi's novel stem cell-based platforms, which are designed to arm the immune system to fight cancer.
About Calidi Biotherapeutics' Pipeline
Calidi Biotherapeutics is a clinical-stage immuno-oncology company focused on developing targeted immunotherapies. Their approach involves utilizing allogeneic stem cells capable of carrying payloads of oncolytic viruses for various oncology indications, including high-grade gliomas and solid tumors. Calidi's off-the-shelf, universal cell-based delivery platforms are designed to protect, amplify, and potentiate oncolytic viruses, potentially enhancing efficacy and improving patient safety. Additionally, their preclinical enveloped virotherapies target disseminated solid tumors, offering a dual approach to treat or prevent metastatic disease.
Offering Details
The securities are being offered pursuant to a shelf registration statement on Form S-3, which was declared effective by the SEC on October 10, 2024. The offering is being made only by means of a prospectus, including a prospectus supplement, which is part of the effective registration statement, that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC’s website or by contacting Ladenburg Thalmann & Co. Inc.
