Calidi Biotherapeutics Inc. Secures $4.6 Million Through Warrant Exercise Agreement
TL;DR
Calidi Biotherapeutics secures $4.6 million through warrant exercise, offering investors a strategic entry point at $0.70 per share to fund groundbreaking cancer therapies.
Calidi Biotherapeutics executes a warrant exercise for 6,595,000 shares at $0.70 each, generating $4.6 million to advance its clinical and pre-clinical oncology programs.
Calidi Biotherapeutics' funding boost accelerates the development of innovative cancer treatments, promising a future with safer and more effective therapies for patients worldwide.
Calidi Biotherapeutics leverages a $4.6 million warrant exercise to pioneer stem cell-based platforms targeting cancer, marking a significant leap in immuno-oncology research.
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Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company focused on developing targeted therapies for genetic medicine delivery, has announced a significant financial milestone. The company has entered into a definitive agreement for the immediate cash exercise of outstanding warrants, totaling 6,595,000 shares of common stock at a reduced price of $0.70 per share. This transaction is expected to generate approximately $4.6 million in gross proceeds, providing a substantial boost to the company's financial resources.
In exchange for the exercised warrants, Calidi Biotherapeutics will issue new unregistered warrants with the same share count. These new warrants will be exercisable in six months at $0.70 per share and will remain valid for five and a half years. Ladenburg Thalmann & Co. Inc. is serving as the exclusive placement agent for this transaction, underscoring the confidence in Calidi's innovative approach to cancer treatment.
The net proceeds from this warrant exercise agreement are earmarked for supporting Calidi's clinical and pre-clinical programs, operations, and working capital. This financial infusion is critical for advancing the company's proprietary stem cell-based platforms, which are designed to arm the immune system to fight cancer. Calidi's technology utilizes potent allogeneic stem cells capable of carrying payloads of oncolytic viruses, targeting high-grade gliomas and solid tumors with the potential to treat or even prevent metastatic disease.
This development is a testament to Calidi Biotherapeutics' commitment to revolutionizing cancer treatment through innovative genetic medicine delivery. The successful raising of $4.6 million not only strengthens the company's financial position but also accelerates its mission to enhance efficacy and improve patient safety in oncology indications. For more information on Calidi Biotherapeutics and its groundbreaking work, visit https://www.calidibio.com.
Curated from InvestorBrandNetwork (IBN)
