Why Calidi Biotherapeutics (CLDI) Stock Is Down 13%
Portfolio Pulse from Henry Khederian
Calidi Biotherapeutics (NASDAQ:CLDI) shares fell 13.3% to 98 cents after announcing a securities purchase agreement for 2,050,000 shares at $1.00 each. Concurrently, series E and F warrants will allow purchase of additional shares at $1.13. The transactions close around October 24.
October 23, 2024 | 2:06 pm
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Calidi Biotherapeutics' stock dropped 13.3% following the announcement of a securities purchase agreement and issuance of warrants. This move dilutes existing shares, impacting short-term stock price negatively.
The announcement of a securities purchase agreement and issuance of warrants typically leads to stock dilution, which can negatively impact the stock price in the short term. The 13.3% drop reflects investor reaction to potential dilution.
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