Calidi Biotherapeutics Announces Closing of $6.9 Million Underwritten Public Offering and Full Exercise of Underwriters鈥� Over-Allotment Option
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) has successfully closed its underwritten public offering, raising $6.9 million in gross proceeds. The offering included 1,922,764 common stock units at $2.00 per unit and 1,528,000 pre-funded warrant units at $1.999 per unit, with the underwriters fully exercising their over-allotment option.
Each common stock unit consists of one share and one Series I warrant, while pre-funded warrant units include one pre-funded warrant and one Series I warrant. The Series I warrants have a $2.00 exercise price and a 5-year term. Ladenburg Thalmann & Co. Inc. served as the sole book-running manager, with Laidlaw & Company as co-manager.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) ha concluso con successo un collocamento pubblico garantito, raccogliendo 6,9 milioni di dollari di proventi lordi. L鈥檕perazione ha compreso 1.922.764 unit脿 di azioni ordinarie a 2,00 $ l鈥檜na e 1.528.000 unit脿 con warrant prefinanziato a 1,999 $ l鈥檜na, con gli assicuratori che hanno esercitato pienamente l鈥檕pzione di sovrallocazione.
Ogni unit脿 di azione ordinaria comprende una azione e un warrant di Serie I, mentre le unit脿 prefinanziate includono un warrant prefinanziato e un warrant di Serie I. I warrant di Serie I hanno un prezzo di esercizio di 2,00 $ e una scadenza di 5 anni. Ladenburg Thalmann & Co. Inc. 猫 stata il book-runner unico, con Laidlaw & Company come co-manager.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) ha cerrado con 茅xito su oferta p煤blica suscrita, recaudando 6,9 millones de d贸lares en ingresos brutos. La oferta incluy贸 1.922.764 unidades de acciones ordinarias a 2,00 $ por unidad y 1.528.000 unidades con warrant prefinanciado a 1,999 $ por unidad, con los aseguradores ejerciendo completamente la opci贸n de sobreasignaci贸n.
Cada unidad de acci贸n ordinaria consta de una acci贸n y un warrant de la Serie I, mientras que las unidades prefinanciadas incluyen un warrant prefinanciado y un warrant de la Serie I. Los warrants de la Serie I tienen un precio de ejercicio de 2,00 $ y un plazo de 5 a帽os. Ladenburg Thalmann & Co. Inc. actu贸 como 煤nico book-runner, con Laidlaw & Company como co-manager.
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Calidi Biotherapeutics (NYSE AMERICAN: CLDI) a cl么tur茅 avec succ猫s son offre publique souscrite, levant 6,9 millions de dollars de produit brut. L鈥檕ffre comprenait 1 922 764 unit茅s d鈥檃ctions ordinaires 脿 2,00 $ l鈥檜nit茅 et 1 528 000 unit茅s avec warrant pr茅financ茅 脿 1,999 $ l鈥檜nit茅, les souscripteurs ayant pleinement exerc茅 leur option de surallocation.
Chaque unit茅 d鈥檃ction ordinaire comprend une action et un warrant de s茅rie I, tandis que les unit茅s pr茅financ茅es incluent un warrant pr茅financ茅 et un warrant de s茅rie I. Les warrants de s茅rie I ont un prix d鈥檈xercice de 2,00 $ et une dur茅e de 5 ans. Ladenburg Thalmann & Co. Inc. a agi en tant que book-runner unique, avec Laidlaw & Company comme co-gestionnaire.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) hat ihr unterzeichnetes 枚ffentliches Angebot erfolgreich abgeschlossen und dabei 6,9 Millionen US-Dollar Bruttoerl枚s erzielt. Das Angebot umfasste 1.922.764 St眉ck regul盲rer Aktien-Einheiten zu je 2,00 $ sowie 1.528.000 vorab bezahlte Warrant-Einheiten zu je 1,999 $, wobei die Underwriter ihre Mehrzuteilungsoption vollst盲ndig ausge眉bt haben.
Jede regul盲re Aktien-Einheit besteht aus einer Aktie und einem Series鈥慖鈥慦arrant; die vorab bezahlten Einheiten enthalten einen vorab bezahlten Warrant und einen Series鈥慖鈥慦arrant. Die Series鈥慖鈥慦arrants haben einen Aus眉bungspreis von 2,00 $ und eine Laufzeit von 5 Jahren. Ladenburg Thalmann & Co. Inc. fungierte als alleiniger Book鈥慠unning鈥慚anager, Laidlaw & Company war Co鈥慚anager.
- None.
- Offering will cause significant dilution to existing shareholders
- Relatively small offering size may not provide substantial runway for clinical development
- Low offering price of $2.00 per unit indicates challenging market conditions
Insights
Calidi Biotherapeutics secured $6.9M financing through public offering, providing modest runway but likely requiring additional capital for clinical advancement.
Calidi's $6.9 million capital raise represents a critical but relatively modest financial infusion for this clinical-stage oncology company. The structure of the offering - combining common stock units and pre-funded warrants with 5-year Series I warrants (exercise price
The full exercise of the 450,000-unit overallotment option indicates some demand strength, but the relatively small size of the raise (
Calidi's Redtail platform, featuring an engineered enveloped oncolytic virus designed for systemic delivery, targets high-value indications including non-small cell lung cancer and ovarian cancer. However, with their lead Redtail candidate still in IND-enabling studies (pre-clinical), substantial additional capital will be required before reaching key value-inflection clinical milestones.
This financing provides essential working capital but likely represents a bridge rather than a transformative raise. Investors should monitor cash burn rates and anticipate potential additional financings within 6-9 months unless significant partnership deals materialize.
The
This financing utilizes a common capital-raising structure for smaller biotechs - pairing immediate equity with longer-term warrant coverage. The 5-year Series I warrants essentially provide investors a long-term option on the company's success without variable pricing features that would create unpredictable dilution.
From a financial flexibility perspective, the decision to include pre-funded warrants (
For a company with programs still primarily pre-clinical, this raise reflects the challenging funding environment for early-stage biotechs. The full exercise of the over-allotment option suggests sufficient investor interest, but the modest size indicates constraints on raising larger amounts without accepting more severe terms or dilution.
While providing needed capital for near-term operations, this financing represents just one step in what will necessarily be multiple capital raises before reaching commercial potential, assuming clinical success.
SAN DIEGO, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. (NYSE AMERICAN: CLDI) (鈥淐alidi鈥� or the 鈥淐ompany鈥�), a clinical-stage biotechnology company pioneering the development of targeted therapies with the potential to deliver genetic medicines to distal sites of disease,聽today announced the closing of its previously announced underwritten public offering and the exercise in full of the underwriters鈥� over-allotment option for gross proceeds of
In connection with the offering, the Company sold (i) 1,922,764 common stock units with each unit consisting of one share of common stock and one Series I warrant to purchase one share of common stock (鈥淐ommon Stock Unit鈥�) and (ii) 1,528,000 pre-funded warrant units consisting of one pre-funded warrant to purchase one share of common stock and one Series I warrant to purchase one share of common stock (鈥淧re-Funded Unit鈥�). The common stock units include 450,000 units that the underwriters elected to purchase pursuant to the over-allotment option. The price per Common Stock Unit is
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager for the offering. Laidlaw & Company (U.K.) Ltd. acted as a co-manager for the offering.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-289670), which was declared effective by the United States Securities and Exchange Commission (鈥淪EC鈥�) on August 20, 2025. A final prospectus was filed with the SEC on August 21, 2025, and is available on the SEC鈥檚 website at聽. Electronic copies of the final prospectus may also be obtained by contacting Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Calidi Biotherapeutics
Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage immuno-oncology company pioneering the development of targeted therapies with the potential to deliver genetic medicines to distal sites of disease. The company's proprietary Redtail platform features an engineered enveloped oncolytic virus designed for systemic delivery and targeting of metastatic sites. This advanced enveloped technology is intended to shield the virus from immune clearance, allowing virotherapy to effectively reach tumor sites, induce tumor lysis, and deliver potent gene therapies to metastatic locations.
The lead candidate from the Redtail platform, currently in IND-enabling studies, targets non-small cell lung cancer, ovarian cancer, and other tumor types with high unmet medical need. Additionally, Calidi is developing protected virotherapies, in clinical-stage, for intratumoral and localized administration, focusing on a subset of injectable cancer indications.
Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit聽.
Forward-Looking Statements
This press release may contain forward-looking statements for purposes of the 鈥渟afe harbor鈥� provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as 鈥渁nticipates,鈥� 鈥渂elieve,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntends,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減lan,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥減redicts,鈥� 鈥減roject,鈥� 鈥渟hould,鈥� 鈥渢owards,鈥� 鈥渨ould鈥� as well as similar terms, are forward-looking in nature, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements concerning key milestones, including certain pre-clinical data, planned clinical trials, and statements relating to the safety and efficacy of Calidi鈥檚 therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi鈥檚 current expectations and beliefs concerning future developments and their potential effects and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that Calidi is not able to raise sufficient capital to support its current and anticipated clinical trials, the risk that early results of clinical trials do not necessarily predict final results and that one or more of the clinical outcomes may materially change following more comprehensive review of the data, and as more patient data becomes available, the risk that Calidi may not receive FDA approval for some or all of its therapeutic candidates. Other risks and uncertainties are set forth in the section entitled 鈥淩isk Factors鈥� and 鈥淐autionary Note Regarding Forward-Looking Statements鈥� in the Company鈥檚 annual report filed with the SEC on Form 10-K on March 31, 2025, as may be amended or supplemented by other reports we file with the SEC from time to time.
For Investors:
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
FAQ
How much did Calidi Biotherapeutics (CLDI) raise in its public offering?
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