Calidi Biotherapeutics (CLDI) has released an update.
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Calidi Biotherapeutics settled a dispute with a group of physicians over stock options and partnership termination by agreeing to issue them 200,000 restricted shares and 400,000 warrants to purchase more shares at $1.32 each, exercisable over five years. The physicians also gained piggy-back rights, although Calidi retains the discretion to refuse registration of these shares if it negatively impacts capital raising efforts. This settlement concludes the lawsuit filed by the physicians, who claimed their 1,248,600 stock options remained valid despite not providing services since 2018.
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