Calidi Biotherapeutics Announces Significant Reverse Stock Split
Overview of Calidi Biotherapeutics' Reverse Stock Split
Calidi Biotherapeutics, Inc. (NYSE American: CLDI) is set to implement a strategic reverse stock split of its common stock at a ratio of 1-for-12. This decision aims to optimize market dynamics and broaden investor appeal. The split-adjusted trading is expected to commence soon, which is a significant move for the company.
What is a Reverse Stock Split?
A reverse stock split involves consolidating existing shares into fewer new ones. In Calidi's case, twelve shares will be consolidated into one share. This kind of adjustment can increase the stock price while reducing the number of shares outstanding, which may attract more institutional investors and enhance the stock’s market perception.
Implications for Shareholders
Calidi aims to maximize shareholder value through this split. All stockholders of record will have their shares adjusted automatically. Those with shares in book-entry form won’t need to do anything as the process will be seamless. However, stockholders holding physical certificates will receive instructions on how to exchange their certificates post-split.
Rationale Behind the Split
The decision to conduct the reverse stock split was supported at the company's recent annual meeting. This step is seen as necessary to align with investor interests and enhance the trading conditions for their shares. Following the split, the new CUSIP number for the company's common stock will be updated to reflect this change.
Adjustments to Options and Warrants
Following the reverse stock split, adjustments will also be made to outstanding options, warrants, and convertible securities. These adjustments are crucial to ensure equitable treatment for all shareholders and to maintain the intrinsic value of the investment.
About Calidi Biotherapeutics
Calidi Biotherapeutics (NYSE American: CLDI) is on the forefront of biotechnology, focusing on targeted therapies that deliver genetic treatments for diseases. Their innovative Redtail platform enables the design of viral vectors capable of circumventing immune detection, thus enhancing treatment efficacy for conditions such as non-small cell lung cancer and ovarian cancer.
Calidi’s Future Directions
The company is actively involved in developing therapies that specifically target cancer, hoping to fulfill unmet medical needs in oncology. As they proceed with clinical studies, Calidi continues to push the boundaries of virotherapy, exploring new avenues for treatment that could potentially transform patient outcomes.
Contact and Further Information
For more information about Calidi Biotherapeutics, interested parties can visit their official website. Calidi's dedicated contact for investor inquiries is:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
Email: CLDI@redchip.com
Frequently Asked Questions
What is the purpose of the reverse stock split?
The reverse stock split is intended to enhance market perceptions and attract more investors.
How will the reverse stock split affect my shares?
Every twelve shares you hold will convert into one share, effectively increasing the share price while consolidating the total number of shares.
When will the new trading begin?
The company expects trading on a split-adjusted basis to start shortly after the split is effective.
What happens if I own fractional shares?
Fractional shares will be rounded up to the nearest whole share, though adjustments at the beneficial level will not occur.
Where can I find more information about Calidi’s therapies?
More details can be found on the Calidi Biotherapeutics official website, where updates on research and developments are regularly posted.
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