Calidi announces Reverse Stock Split, expected to begin trading on a 1-for-12 split adjusted basis on August 5, 2025
Calidi Biotherapeutics (NYSE American: CLDI), a clinical-stage biotech company, has announced a 1-for-12 reverse stock split effective August 5, 2025. The reverse split was approved by stockholders on July 9, 2025, and by the Board of Directors on July 11, 2025.
Under the split, every 12 pre-split shares will be consolidated into one share, with fractional shares rounded up to the nearest whole share at the participant level. The company will maintain its "CLDI" trading symbol with a new CUSIP number 320703 408. Proportionate adjustments will be made to outstanding options, warrants, and convertible securities.
The split will not affect the par value of common stock, authorized but unissued shares, or authorized preferred stock. Equiniti Trust Company has been appointed as the exchange agent to facilitate the process.
Calidi Biotherapeutics (NYSE American: CLDI), una società biotecnologica in fase clinica, ha annunciato un raggruppamento azionario inverso 1-per-12 con effetto dal 5 agosto 2025. Il raggruppamento è stato approvato dagli azionisti il 9 luglio 2025 e dal Consiglio di Amministrazione l'11 luglio 2025.
Con questa operazione, ogni 12 azioni precedenti al raggruppamento saranno consolidate in un'unica azione, e le frazioni di azioni saranno arrotondate per eccesso all'azione intera più vicina a livello di partecipante. La società manterrà il simbolo di negoziazione "CLDI" con un nuovo numero CUSIP 320703 408. Saranno effettuate regolazioni proporzionali su opzioni, warrant e titoli convertibili in circolazione.
Il raggruppamento non influirà sul valore nominale delle azioni ordinarie, sulle azioni autorizzate ma non emesse, né sulle azioni privilegiate autorizzate. Equiniti Trust Company è stata nominata agente di scambio per facilitare il processo.
Calidi Biotherapeutics (NYSE American: CLDI), una empresa biotecnológica en etapa clínica, ha anunciado una consolidación inversa de acciones 1 por 12 con vigencia a partir del 5 de agosto de 2025. La consolidación fue aprobada por los accionistas el 9 de julio de 2025 y por la Junta Directiva el 11 de julio de 2025.
Con esta operación, cada 12 acciones anteriores a la consolidación se unirán en una sola acción, y las fracciones de acciones se redondearán al alza a la acción entera más cercana a nivel de participante. La compañía mantendrá su símbolo de cotización "CLDI" con un nuevo número CUSIP 320703 408. Se realizarán ajustes proporcionales a las opciones, warrants y valores convertibles en circulación.
La consolidación no afectará el valor nominal de las acciones comunes, las acciones autorizadas pero no emitidas, ni las acciones preferentes autorizadas. Equiniti Trust Company ha sido designada como agente de intercambio para facilitar el proceso.
Calidi Biotherapeutics (NYSE American: CLDI)는 임상 단계의 생명공학 회사로, 2025년 8월 5일부로 1대 12 역병합 주식 분할을 발표했습니다. 이 역병합은 2025년 7월 9일 주주들의 승인을 받았으며, 7월 11일 이사회에서 승인되었습니다.
이번 분할에 따라 기존 주식 12주가 1주로 통합되며, 소수 주식은 참가자 수준에서 가장 가까운 정수 주식으로 올림 처리됩니다. 회사는 "CLDI"라는 거래 심볼을 유지하며, 새로운 CUSIP 번호 320703 408이 부여됩니다. 발행된 옵션, 워런트 및 전환 가능 증권에 대해서는 비례 조정이 이루어집니다.
이번 분할은 보통주의 액면가, 승인되었으나 발행되지 않은 주식, 승인된 우선주에는 영향을 미치지 않습니다. Equiniti Trust Company가 교환 대행자로 지정되어 절차를 지원할 예정입니다.
Calidi Biotherapeutics (NYSE American : CLDI), une société biotechnologique en phase clinique, a annoncé une fusion inversée d’actions au ratio de 1 pour 12 effective à partir du 5 août 2025. Cette fusion inversée a été approuvée par les actionnaires le 9 juillet 2025 et par le conseil d’administration le 11 juillet 2025.
Dans le cadre de cette opération, chaque groupe de 12 actions avant la fusion sera consolidé en une seule action, avec un arrondi à l’action entière la plus proche au niveau des participants pour les fractions d’actions. La société conservera son symbole boursier « CLDI » avec un nouveau numéro CUSIP 320703 408. Des ajustements proportionnels seront appliqués aux options, bons de souscription et titres convertibles en circulation.
Cette opération n’affectera pas la valeur nominale des actions ordinaires, les actions autorisées mais non émises, ni les actions privilégiées autorisées. Equiniti Trust Company a été désignée agent d’échange pour faciliter le processus.
Calidi Biotherapeutics (NYSE American: CLDI), ein biotechnologisches Unternehmen in der klinischen Entwicklungsphase, hat eine 1-zu-12 Reverse-Aktienzusammenlegung mit Wirkung zum 5. August 2025 angekündigt. Die Zusammenlegung wurde am 9. Juli 2025 von den Aktionären und am 11. Juli 2025 vom Vorstand genehmigt.
Im Rahmen der Zusammenlegung werden jeweils 12 Altaktien zu einer neuen Aktie konsolidiert, wobei Bruchteile auf die nächsthöhere ganze Aktie auf Teilnehmer-Ebene aufgerundet werden. Das Unternehmen behält das Handelssymbol „CLDI“ bei und erhält eine neue CUSIP-Nummer 320703 408. Proportionale Anpassungen erfolgen bei ausstehenden Optionen, Warrants und wandelbaren Wertpapieren.
Die Zusammenlegung wirkt sich nicht auf den Nennwert der Stammaktien, genehmigte, aber nicht ausgegebene Aktien oder genehmigte Vorzugsaktien aus. Die Equiniti Trust Company wurde als Austauschagent zur Unterstützung des Prozesses benannt.
- Decision aims to optimize market dynamics and broaden investor appeal
- Automatic rounding up of fractional shares benefits stockholders
- No action required for stockholders with book-entry or street name holdings
- Significant reduction in total outstanding shares could impact trading liquidity
- May indicate company's struggle to maintain minimum share price requirements
- Administrative burden for stockholders holding physical certificates
Insights
Calidi's 1-for-12 reverse split aims to improve market positioning but signals possible compliance issues while maintaining unchanged fundamental value.
Calidi Biotherapeutics has announced a 1-for-12 reverse stock split effective August 5, 2025, a significant financial restructuring that warrants investor attention. This maneuver will consolidate every 12 existing shares into a single share, mathematically increasing the share price by 12x while proportionally reducing the number of outstanding shares.
Reading between the lines, this reverse split likely addresses NYSE American listing requirements. Though framed as "noncompulsory" and meant to "optimize market dynamics," reverse splits are typically defensive measures implemented when share prices fall below exchange minimums - usually
Importantly, this action changes nothing about Calidi's underlying value - market capitalization remains identical pre and post-split. All equity instruments (options, warrants, convertibles) will be proportionally adjusted, maintaining their economic value. Fractional shares will be rounded up to the nearest whole share, a minor positive for small shareholders.
The technical implementation appears straightforward, with minimal shareholder action required. Book-entry and street-name holders will see automatic adjustments, while certificate holders will receive exchange instructions from Equiniti, the appointed exchange agent.
For this clinical-stage biotech developing targeted genetic medicine therapies, the reverse split represents financial engineering rather than operational progress. The unchanged fundamental proposition still hinges on clinical advancement of their pipeline.
SAN DIEGO, July 25, 2025 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. (“Calidi” or the “Company”) (NYSE American: CLDI), a clinical-stage biotechnology company pioneering the development of targeted therapies with the potential to deliver genetic medicines to distal sites of disease, announced today that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-12 (the “Reverse Stock Split”). The Company’s common stock is expected to commence trading on a split-adjusted basis when the NYSE American market opens on August 5, 2025 under the existing symbol of “CLDI.” The new CUSIP number for the Company’s common stock following the Reverse Stock Split will be 320703 408.
The noncompulsory decision to implement this stock split reflects the Company’s aim to optimize market dynamics, broaden investor appeal and accessibility, and align the stock’s trading conditions with the best interests of its investors. The Reverse Stock Split was approved by the Company's stockholders at its annual general meeting of stockholders held on July 9, 2025. On July 11, 2025, the Company's Board of Directors approved the Reverse Stock Split at the ratio of 1-for-12.
Following the effectiveness of the Reverse Stock Split, every twelve (12) pre-split shares of outstanding common stock will become one (1) share of common stock. Stockholders of record who would otherwise be entitled to receive a fractional share will automatically be entitled to the rounding up of the fractional share to the nearest whole share. The Company does not intend to round up fractional shares at the beneficial level and will instead round any such fractional shares up at the participant level. Proportionate adjustments will be made to (i) shares of common stock issuable upon exercise or conversion of all issued and outstanding options, warrants and convertible securities of every kind, in accordance with the terms of each instrument, and (ii) shares outstanding and authorized for issuance under the Company’s equity incentive plan and the employee stock purchase plan, both as amended. The Reverse Stock Split will not affect the par value of the common stock, nor the number of authorized but unissued shares of common stock, nor the Company’s authorized preferred stock.
Information for Calidi Stockholders
Upon the effectiveness of the Reverse Stock Split, every twelve (12) shares of common stock owned prior to the split will be consolidated and reclassified into one (1) share of common stock. The Company has appointed Equiniti Trust Company, LLC as the exchange agent to facilitate the Reverse Stock Split process.
Registered stockholders with shares held in book-entry form do not need to take any action to receive post-split shares. Those holding shares through brokerage accounts or “in street name” will see their holdings automatically adjusted to reflect the Reverse Stock Split, in line with individual broker processes, without needing to take further action. Stockholders with shares in certificate form will receive instructions from Equiniti on the procedure for exchanging their certificates, as applicable, shortly after the effective date of the Reverse Stock Split.
About Calidi Biotherapeutics
Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage biotechnology company pioneering the development of targeted therapies that can deliver genetic medicines to sites of disease. The company's proprietary Redtail platform represents a decade of development and expertise in designing viral vectors that can evade immune detection allowing for systemic delivery and distal sites of disease in oncology and, potentially, other indications. This advanced enveloped technology is intended to shield the virus from immune clearance, allowing virotherapy to effectively reach tumor sites, induce tumor lysis, and deliver potent gene therapies to metastatic locations.
The lead candidate from the Redtail platform, currently in IND-enabling studies, targets non-small cell lung cancer, ovarian cancer, and other tumor types with high unmet medical need. Additionally, Calidi is developing protected virotherapies, in clinical-stage, for intratumoral and localized administration, focusing on a subset of injectable cancer indications.
Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit www.calidibio.com.
Forward-Looking Statements
This press release may contain forward-looking statements for purposes of the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as “anticipates,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predicts,” “project,” “should,” “towards,” “would” as well as similar terms, are forward-looking in nature, but the absence of these words does not mean that a statement is not forward-looking. These forward looking statements include, but are not limited to, statements concerning use of proceeds from the offering, that the closing of offering will occur or will occur on the anticipated closing date, upcoming key milestones, planned clinical trials, and statements relating to the safety and efficacy of Calidi’s therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi’s current expectations and beliefs concerning future developments and their potential effects and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that Calidi is not able to raise sufficient capital to support its current and anticipated clinical trials, the risk that early results of clinical trials do not necessarily predict final results and that one or more of the clinical outcomes may materially change following more comprehensive review of the data, and as more patient data becomes available, the risk that Calidi may not receive FDA approval for some or all of its therapeutic candidates. Other risks and uncertainties are set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Form 10-K filed on March 31, 2025 and Form 10-Q filed on May 14, 2025. These reports may be amended or supplemented by other reports we file with the SEC from time to time.
Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
CLDI@redchip.com
FAQ
When will CLDI's 1-for-12 reverse stock split take effect?
What happens to fractional shares in CLDI's reverse stock split?
Do CLDI stockholders need to take any action for the reverse split?
Will CLDI's stock symbol change after the reverse split?
How will CLDI's reverse split affect outstanding options and warrants?
