In addition, in a concurrent private placement, the Company will issue to the investors series E warrants to purchase up to 2,050,000 shares of common stock and series F warrants to purchase up to 2,050,000 shares of common stock. The series E warrants have an exercise price of $1.13 per share, will be exercisable six months following the date of issuance and will have a term of one year from the date of exercisability. The series F warrants have an exercise price of $1.13 per share, will be exercisable six months following the date of issuance and will have a term of five years from the date of exercisability.
The closing of the registered direct offering and the concurrent private placement is expected to occur on or about October 24, 2024, subject to the satisfaction of customary closing conditions.
Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent for the offerings.
The gross proceeds to Calidi from the registered direct offering and the concurrent private placement, before deducting the placement agent fees and other offering expenses payable by the Company, are expected to be approximately $2 million. Calidi intends to use the net proceeds from the offerings for working capital and for general corporate purposes and pre-clinical and clinical trials.
The securities described above (excluding the warrants and the shares of common stock underlying the warrants) are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-282456), which was declared effective by ...
