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First Light Acquisition Group, Inc. (NYSE: FLAG) is a special purpose acquisition company that recently completed a business combination with Calidi Biotherapeutics. The combined company will trade under the ticker symbols CLDI and CLDI WS on the New York Stock Exchange American, led by Calidi's management team, including CEO Allan Camaisa. The business combination resulted in approximately $28 million in gross proceeds, facilitating the development of cutting-edge targeted immunotherapies for cancer treatment. Calidi's innovative platforms, NeuroNova and SuperNova, utilize allogeneic stem cells to target and combat tumor cells, offering promising clinical results and potential universal cancer treatments for patients.

09/13/2023 05:50 AM

News

Calidi Biotherapeutics Debuts as a Publicly Traded Company Focused on Arming the Immune System to Fight Cancer with a New Generation of Targeted Immunotherapies

Rhea-AI Summary

Calidi Biotherapeutics completes business combination with First Light Acquisition Group, securing approximately $28 million in gross proceeds. Calidi also secures forward purchase agreement for up to $10 million and intends to enter into a purchase agreement for up to $50 million. Common stock and warrants to commence trading on NYSE on September 13.

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First Light Acquisition Group Announces NYSE Approval for Listing of Business Combination with Calidi Biotherapeutics and Additional New Capital Commitments

Rhea-AI Summary

First Light Acquisition Group anticipates completing its business combination with Calidi Biotherapeutics on September 12, 2023. Gross proceeds made available to Calidi Biotherapeutics from the transaction will total approximately $28 million. Calidi also secured a forward purchase agreement for up to $10 million. Common stock and warrants of Calidi approved for listing on the New York Stock Exchange American under the ticker symbols “CLDI” and “CLDI WS,” respectively, and expected to begin trading on September 13, 2023.

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FAQ

What is First Light Acquisition Group, Inc.?

First Light Acquisition Group, Inc. is a special purpose acquisition company that recently completed a business combination with Calidi Biotherapeutics.

What are the ticker symbols for the combined company on the New York Stock Exchange American?

The combined company will trade under the ticker symbols CLDI and CLDI WS.

Who leads the combined company after the business combination?

Calidi's existing management team, including CEO Allan Camaisa, will lead the combined company.

How much gross proceeds were generated from the business combination?

The business combination resulted in approximately $28 million in gross proceeds.

What are the innovative platforms developed by Calidi for cancer treatment?

Calidi has developed NeuroNova and SuperNova, utilizing allogeneic stem cells to target and combat tumor cells.

What are the potential benefits of Calidi's stem cell-based therapies?

Calidi's therapies offer promising clinical results and potential universal cancer treatments for patients in need of new options.

What is the mission of Calidi Biotherapeutics?

Calidi Biotherapeutics aims to develop a new generation of targeted immunotherapies that could revolutionize cancer treatment.

How long are the proceeds from the business combination expected to fund Calidi's operations?

The Company believes that the proceeds will be sufficient to fund its operations into 2025.

Who can investors contact for more information about Calidi Biotherapeutics?

Investors can reach out to Stephen Jasper at Gilmartin Group for further details: stephen@gilmartinir.com

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