CLDI Form 3 Filed by Lincoln Alternative Strategies — 730,000 Shares

Rhea-AI Filing Summary

Calidi Biotherapeutics (CLDI) Form 3 reports that Lincoln Alternative Strategies LLC filed an initial beneficial ownership statement following an 08/20/2025 event. The filing shows 730,000 shares of Common Stock held in direct ownership. No derivative securities are reported. The form was signed by Stephen Temes on 08/27/2025 and indicates the filer is a director of the issuer and the Form was filed by one reporting person.

Insights

Securities Analyst

TL;DR: Routine initial ownership disclosure showing 730,000 directly held common shares; no derivatives reported.

The Form 3 is a standard Section 16 filing documenting the initial beneficial ownership position of Lincoln Alternative Strategies LLC in Calidi Biotherapeutics (CLDI). The key fact for investors and compliance teams is the 730,000 shares reported as directly beneficially owned and absence of any derivative positions, which simplifies short-term tracking of potential insider transactions. The filing date and signature provide the required audit trail for regulatory purposes.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure meeting Section 16 requirements; no material new obligations or complex instruments disclosed.

This Form 3 appears to satisfy initial reporting obligations by identifying the reporting entity, its address, relationship to the issuer (marked as a director), and the exact number of common shares beneficially owned (730,000). The absence of derivative securities reduces governance complexity. The document includes a manual signature dated 08/27/2025, aligning with filing formalities.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Lincoln Alternative Strategies LLC

(Last) (First) (Middle)

404 WASHINGTON AVE., SUITE 650

(Street)

MIAMI BEACH FL 33139

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/20/2025

3. Issuer Name and Ticker or Trading Symbol
Calidi Biotherapeutics, Inc. [ CLDI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.0001 per share	730,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Stephen Temes	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 3 for Calidi Biotherapeutics (CLDI) disclose?

The Form 3 discloses that Lincoln Alternative Strategies LLC directly beneficially owns 730,000 shares of Calidi Biotherapeutics common stock and reports no derivative securities.

Who is the reporting person on the CLDI Form 3?

The reporting person is Lincoln Alternative Strategies LLC with an address in Miami Beach, FL; the form is signed by Stephen Temes.

When was the event requiring the CLDI Form 3 reported?

The event date listed on the form is 08/20/2025 and the Form 3 was signed on 08/27/2025.

Does the Form 3 for CLDI report any derivative securities or options?

No. The filing lists no derivative securities, exercisable instruments, or conversion features; only common stock is reported.

What is the reporting relationship to the issuer on the Form 3?

The form indicates the reporting person is marked as a director of the issuer.