Business Context and Reporting Period
This Form 8-K Current Report was filed by Calidi Biotherapeutics, Inc. (CLDI) on October 17, 2024. The report addresses a regulatory notice received from the New York Stock Exchange (NYSE) regarding the listing status of the Company's warrants.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the delisting proceedings of the Company's warrants.
Material Changes
The primary material event is the NYSE's determination that the Company's warrants (ticker: CLDI WS) are no longer suitable for listing due to a low trading price. Consequently, the NYSE has commenced proceedings to delist the warrants. The filing explicitly states that the Company's common stock (ticker: CLDI) will continue to trade on the NYSE American and is unaffected by this action.
Outlook, Risks, and Management Commentary
- Delisting Process: The NYSE will apply to the SEC to delist the warrants upon completion of applicable procedures, including any potential appeal by the Company.
- Operational Impact: Management states that the Notice does not affect the Company's business operations or its reporting obligations with the SEC.
- Warrant Terms: Each warrant is exercisable for 1/10th of a share of common stock at an exercise price of $115.00 per whole share.
- Regulatory Disclosure: The Company issued a press release on October 18, 2024, regarding this notice under Regulation FD.
Investor Verification Checklist
- Verify the current trading status and price of the warrants (CLDI WS) to confirm the low trading price cited by the NYSE.
- Confirm that the common stock (CLDI) remains listed and trading on the NYSE American.
- Monitor for any formal appeal filed by the Company against the delisting decision.
- Review the press release dated October 18, 2024 (Exhibit 99.1) for additional details on the timeline.