Calidi Biotherapeutics announces proposed public stock offering

Calidi Biotherapeutics Inc. (NYSE American: CLDI) announced plans for an underwritten public offering of units consisting of common stock shares and warrants, according to a company statement.

The biotechnology company said the offering will include shares of common stock and pre-funded warrants to purchase common stock, with each share or pre-funded warrant sold with accompanying common warrants. The securities will be separated immediately upon issuance.

Pre-funded warrants will be priced at the common stock offering price minus $0.001, which represents the per-share exercise price of each pre-funded warrant. The company expects to grant underwriters a 45-day option to purchase up to an additional 15% of the offered securities at the public offering price, less underwriting discounts and commissions.

Ladenburg Thalmann & Co. Inc. will serve as sole book-running manager for the offering. Calidi stated it intends to use net proceeds for working capital and general corporate purposes.

The company noted the proposed offering remains subject to market and other conditions, with no assurance regarding completion timing or final terms. The securities are being offered under a shelf registration statement on Form S-3 that became effective in February 2025.

San Diego-based Calidi develops targeted genetic medicines through its Redtail platform, which features an engineered enveloped oncolytic virus designed for systemic delivery to metastatic sites. The company's lead candidate, CLD-401, is currently in IND-enabling studies targeting non-small cell lung cancer and head and neck cancer.

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