09:26 AM EST, 01/10/2025 (MT Newswires) -- Calidi Biotherapeutics' ( CLDI ) shares fell by more than 30% in premarket trading on Friday after the company priced a public offering of 5 million shares at $0.85 each.

Gross proceeds from the offering are expected to be about $4.25 million and the company said it will use the net proceeds for working capital and general corporate purposes.

The offering is expected to close Friday.