Calidi Biotherapeutics announced a 1-for-16 reverse stock split of its outstanding common stock, effective July 31, 2026, sending shares down 15.03% in premarket trading to $0.0978. The split, approved by shareholders on June 12 and the board on July 15, will convert every 16 pre-split shares into one post-split share, with fractional shares rounded up. The company stated the move aims to optimize market dynamics, broaden investor appeal, and align trading conditions with shareholder interests. Proportionate adjustments will be made to outstanding stock options, warrants, convertible securities, and equity incentive plans, while the par value and number of authorized shares remain unchanged. The stock will trade on a split-adjusted basis on the NYSE American under the ticker CLDI, with a new CUSIP number 320703507.
Calidi Biotherapeutics Inc.Reverse stock split announced, shares drop 15% premarket