NYSE American Initiates Delisting Proceedings for Calidi Biotherapeutics Warrants

Calidi Biotherapeutics, Inc. (NYSE American: CLDI), a clinical-stage immuno-oncology company, has been notified by the NYSE American that its warrants, ticker symbol CLDI WS, are no longer suitable for listing due to their low trading price. The Exchange has commenced delisting proceedings, which may impact the company's financial health and investor confidence.

The low trading price of Calidi's warrants has led to the delisting decision. The NYSE American Company Guide, Section 1001, stipulates that securities must maintain a minimum trading price to remain listed. Calidi's warrants have failed to meet this criterion, prompting the delisting proceedings.

The delisting of Calidi's warrants may have several consequences. Firstly, it could negatively impact the company's overall financial health. Warrants are a form of equity derivative that allows investors to purchase shares at a predetermined price. A delisting may limit the liquidity of these warrants, making it more difficult for investors to trade them, and potentially reducing their value. Secondly, the delisting could erode investor confidence, as it may be perceived as a sign of financial distress or poor performance.

To mitigate the impact of the delisting, Calidi has the right to appeal the NYSE American's decision to the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. If the appeal is unsuccessful, the NYSE American will apply to the Securities and Exchange Commission to delist the warrants upon completion of all applicable procedures.

In conclusion, the delisting of Calidi Biotherapeutics' warrants is a significant development that could have far-reaching implications for the company's financial health and investor confidence. As Calidi navigates this challenging situation, it is crucial for the company to explore strategic options to maintain its financial stability and continue its mission to develop targeted antitumor virotherapies.