Calidi Biotherapeutics prices $1.2 million stock offering at $1.17 per share

Calidi Biotherapeutics, Inc. is offering 1,025,640 shares of common stock at $1.17 per share to accredited investors and qualified institutional buyers, according to a prospectus supplement dated September 17, 2026. The offering is made under a securities purchase agreement dated September 17, 2026, with each share priced at $1.17.¹

The total public offering price and proceeds before expenses to the company are both listed at $1,200,000, with delivery of the shares expected on or about September 21, 2026, subject to customary closing conditions.¹ The company estimates net proceeds of approximately $1.1 million after expenses, to be used for working capital and general corporate purposes, including advancing its preclinical and clinical programs.¹

Calidi's common stock trades on the NYSE American under the symbol "CLDI."¹ The company is selling the shares directly to investors without an underwriter, placement agent or broker-dealer, and no underwriting discounts, commissions or placement agent fees will be paid.¹

The filing discloses significant financial strain. As of June 30, 2026, the company had about $4.1 million in cash plus $0.2 million in restricted cash, an accumulated deficit near $149.9 million, and working capital of roughly $2.2 million.¹ Calidi said its existing cash and anticipated expenditures will not be enough to fund operations for the twelve months following June 30, 2026, and its recurring losses since inception raise substantial doubt about its ability to continue as a going concern.¹

The company said the new proceeds, combined with existing cash, will meet its capital needs for only the next two months under its current business plan.¹ Calidi said it expects to enter the clinic in the first quarter of 2027 with CLD-401, the first compound from its RedTail platform.¹