Calidi Biotherapeutics Announces Pricing of $4.25 Million Public Offering of Common Stock
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) has announced the pricing of its public offering of 5,000,000 shares of common stock at $0.85 per share, expecting to raise gross proceeds of approximately $4.25 million. The offering is expected to close on January 10, 2025, with Ladenburg Thalmann & Co. Inc. acting as exclusive placement agent.
The company plans to use the net proceeds for working capital and general corporate purposes. The offering is being made through a shelf registration statement on Form S-3, which was declared effective by the SEC on October 10, 2024.
Calidi is a clinical-stage biotechnology company developing targeted immunotherapies, with proprietary technology focused on arming the immune system to fight cancer through stem cell-based platforms carrying oncolytic viruses for multiple oncology indications.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) ha annunciato il prezzo della sua offerta pubblica di 5.000.000 azioni di azioni ordinarie a $0.85 per azione, con l'aspettativa di raccogliere proventi lordi di circa $4.25 milioni. Si prevede che l'offerta si chiuda il 10 gennaio 2025, con Ladenburg Thalmann & Co. Inc. che funge da agente esclusivo per la collocazione.
L'azienda intende utilizzare i proventi netti per il capitale circolante e scopi aziendali generali. L'offerta viene effettuata attraverso una dichiarazione di registrazione di tipo shelf sul Modulo S-3, che è stata dichiarata efficace dalla SEC il 10 ottobre 2024.
Calidi è una azienda biotecnologica in fase clinica che sviluppa immunoterapie mirate, con tecnologia proprietaria focalizzata sull'armare il sistema immunitario per combattere il cancro tramite piattaforme basate su cellule staminali che trasportano virus oncolitici per molteplici indicazioni oncologiche.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) ha anunciado el precio de su oferta pública de 5,000,000 acciones de acciones comunes a $0.85 por acción, esperando recaudar ingresos brutos de aproximadamente $4.25 millones. Se espera que la oferta cierre el 10 de enero de 2025, con Ladenburg Thalmann & Co. Inc. actuando como agente de colocación exclusivo.
La empresa planea utilizar los ingresos netos para capital de trabajo y propósitos corporativos generales. La oferta se realiza a través de una declaración de registro en forma de estante en el Formulario S-3, que fue declarada efectiva por la SEC el 10 de octubre de 2024.
Calidi es una compañía de biotecnología en etapa clínica que desarrolla inmunoterapias dirigidas, con tecnología propietaria centrada en armar al sistema inmunológico para combatir el cáncer a través de plataformas basadas en células madre que transportan virus oncolíticos para múltiples indicaciones oncológicas.
칼리디 생명과학(Calidi Biotherapeutics) (NYSE AMERICAN: CLDI)는 5,000,000 주의 보통주 공모가 $0.85 주당으로 책정되었으며, 약 $4.25 백만 달러의 총 수익을 올릴 것으로 예상하고 있습니다. 이 공모는 2025년 1월 10일에 마감될 예정이며, Ladenburg Thalmann & Co. Inc.가 독점 배치 대리인으로 활동합니다.
회사는 순수익을 운전 자본 및 일반 기업 목적으로 사용할 계획입니다. 이 공모는 2024년 10월 10일 SEC에 의해 효력을 발휘한 S-3 양식의 선반 등록신청서를 통해 이루어지고 있습니다.
Calidi는 면역 체계를 강화하여 암 을 퇴치하기 위한 줄기 세포 기반 플랫폼에 온콜리틱 바이러스를 탑재하여 다수의 암 관련 질환을 치료하는 데 중점을 둔 표적 면역 요법을 개발하는 임상 단계의 생명 공학 회사입니다.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) a annoncé le prix de son offre publique de 5 000 000 d'actions ordinaires à 0,85 $ par action, s'attendant à collecter un produit brut d'environ 4,25 millions de dollars. L'offre devrait se clôturer le 10 janvier 2025, avec Ladenburg Thalmann & Co. Inc. agissant en tant qu'agent de placement exclusif.
La société prévoit d'utiliser les produits nets pour le fonds de roulement et les objectifs d'entreprise généraux. L'offre se fait par le biais d'un dossier d'enregistrement de type shelf sur le formulaire S-3, qui a été déclaré efficace par la SEC le 10 octobre 2024.
Calidi est une société de biotechnologie en phase clinique qui développe des immunothérapies ciblées, avec une technologie propriétaire axée sur l'armement du système immunitaire pour combattre le cancer grâce à des plateformes basées sur des cellules souches transportant des virus oncolytiques pour plusieurs indications oncologiques.
Calidi Biotherapeutics (NYSE AMERICAN: CLDI) hat den Preis für ihr öffentliches Angebot von 5.000.000 Aktien zu einem Preis von $0.85 pro Aktie bekannt gegeben, mit der Erwartung, brutto Einnahmen von etwa $4.25 Millionen zu erzielen. Das Angebot wird voraussichtlich am 10. Januar 2025 abgeschlossen, wobei Ladenburg Thalmann & Co. Inc. als exklusiver Platzierungsagent fungiert.
Das Unternehmen plant, die Nettoerlöse für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Das Angebot erfolgt über eine shelf Registrierungserklärung auf Formular S-3, die von der SEC am 10. Oktober 2024 für wirksam erklärt wurde.
Calidi ist ein biotechnologisches Unternehmen in der klinischen Phase, das zielgerichtete Immuntherapien entwickelt, mit proprietärer Technologie, die darauf abzielt, das Immunsystem zu stärken, um Krebs durch auf Stammzellen basierende Plattformen zu bekämpfen, die onkolytische Viren für multiple onkologische Indikationen transportieren.
- Secured $4.25 million in gross proceeds through public offering
- Successfully priced offering at $0.85 per share
- Has effective shelf registration statement allowing for quick capital raising
- Dilution of existing shareholders through issuance of 5 million new shares
- Share price of $0.85 indicates relatively low market valuation
- Need for additional working capital suggests cash burn concerns
Insights
This
The engagement of Ladenburg Thalmann as placement agent indicates the company's struggle to secure more favorable financing terms through traditional channels. The stated use of proceeds for "working capital and general corporate purposes" is notably vague and may suggest immediate cash needs rather than strategic growth initiatives. For a clinical-stage biotech, this relatively small raise might only provide a few months of runway, potentially necessitating additional dilutive financing in the near term.
The financing comes at a critical juncture for Calidi's cell-based delivery platforms and oncolytic virus programs. While the company's technology targeting high-grade gliomas and solid tumors shows promise, the modest size of this raise may constrain the pace of clinical development. The company's stem cell-based platform for delivering oncolytic viruses represents an innovative approach in immuno-oncology, but the funding could impact the advancement of both their clinical-stage and preclinical programs.
In simpler terms: Think of this like a promising restaurant with an innovative menu but barely enough money to keep the lights on. They're selling more ownership stakes at a discount just to stay operational, which isn't ideal for developing expensive new medical treatments. This level of funding might force them to prioritize certain programs while potentially slowing down others, impacting their overall competitive position in the fast-moving oncology space.
SAN DIEGO, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. (NYSE AMERICAN: CLDI) (“Calidi” or the “Company”), a clinical-stage biotechnology company developing a new generation of targeted immunotherapies, today announced that it priced its public offering of 5,000,000 shares of common stock at a price of
The closing of the offering is expected to occur on or about January 10, 2025, subject to satisfaction of customary closing conditions.
Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent for the offering.
The gross proceeds to Calidi from the offering, before deducting the placement agent fees and other offering expenses payable by the Company, are expected to be approximately
The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-282456), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on October 10, 2024. The offering will be made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering 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 prospectus@ladenburg.com, once available.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described therein, nor shall 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 with proprietary technology designed to arm the immune system to fight cancer. Calidi’s novel stem cell-based platforms are utilizing potent allogeneic stem cells capable of carrying payloads of oncolytic viruses for use in multiple oncology indications, including high-grade gliomas and solid tumors. Calidi’s clinical stage off-the-shelf, universal cell-based delivery platforms are designed to protect, amplify, and potentiate oncolytic viruses leading to enhanced efficacy and improved patient safety. Calidi’s preclinical off-the-shelf enveloped virotherapies are designed to target disseminated solid tumors. This dual approach can potentially treat, or even prevent, metastatic disease. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit www.calidibio.com.
Forward-Looking Statements
This press release may contain forward-looking statements for purposes of the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as “anticipates,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predicts,” “project,” “should,” “towards,” “would” 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 upcoming key milestones (including the reporting of interim clinical results and the dosing of patients), planned clinical trials, and statements relating to the safety and efficacy of Calidi’s therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi’s 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 “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Registration Statements filed with the SEC on (i) Form S-4 filed on August 2, 2023 and the corresponding prospectus filed on August 4, 2023, and (ii) on Form S-1 filed on April 15, 2024, and the Company’s periodic reports filed with the SEC on (i) Form 10-K filed on March 15, 2024, (ii) Form 10-Q filed on May 14, 2024, (iii) Form 10-Q filed on August 13, 2024, and (iv) Form 10-Q filed on November 12, 2024. These reports 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
CLDI@redchip.com
FAQ
How much did Calidi Biotherapeutics (CLDI) raise in its January 2025 public offering?
What is the price per share for CLDI's January 2025 public offering?
How will CLDI use the proceeds from its January 2025 public offering?
Who is the placement agent for CLDI's January 2025 public offering?
When is CLDI's January 2025 public offering expected to close?
