Why Is Calidi Biotherapeutics (CLDI) Stock Down 51% Today?


  • Calidi Biotherapeutics (CLDI) stock is falling on Tuesday with a public offering.
  • The company is selling over 15 million shares for 40 cents each.
  • These shares also come with several warrants.
CLDI Stock - Why Is Calidi Biotherapeutics (CLDI) Stock Down 51% Today?

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Calidi Biotherapeutics (NYSEMKT:CLDI) stock is falling on Tuesday after the clinical-stage immuno-oncology company priced a public offering of its shares.

The company is selling 15,197,500 shares of CLDI stock for 40 cents per share. Each of these shares also comes with several warrants to acquire additional shares of Calidi Biotherapeutics.

The warrants included in this offering include Series A Common Warrants and Series B Unit Warrants. Each includes one share of CLDI stock, a Series B-1 Common Warrant, and a Series C Unit Warrant. The Series B-1 Common Warrant and Series C Unit Warrant are exercisable for one share of common stock and a Series C-1 Common Warrant.

All of the common warrants in this offering are exercisable for 60 cents. Series A Common Warrants, Series B Unit Warrants and Series C Unit Warrants are exercisable immediately.

The Series A Common Warrant, the Series B-1 Warrant and the Series C-1 Common Warrant expire in five years, the Series B common warrants expire in 12 months, and the Series C common warrants expire in four months.

CLDI Stock Offering Plans

Calidi Biotherapeutics notes that it expects gross proceeds of $6.1 million from this offering. The company intends to use this money for working capital and general corporate purposes, as well as for pre-clinical and clinical trials.

The reason all this has sent the stock down today is the fear of dilution of stockholders’ stakes in Calidi Biotherapeutics. Adding to that is the offering price of 40 cents being below its prior closing price.

CLDI stock is down 50.8% as of Tuesday morning.

There are more stock market stories available below!

We have all of the latest stock market news on Tuesday! That includes everything happening with shares of Ryvyl (NASDAQ:RVYL) stock, Dragonfly Energy (NASDAQ:DFLI) stock and Dynatronics (NASDAQ:DYNT) stock today. All of that news is available at the following links!

More Stock Market News for Tuesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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