SCHEDULE: Armistice Capital Reports 4.99% Stake in Calidi Bio

Armistice Capital and Steven Boyd have filed an amended Schedule 13G, reporting a 4.99% beneficial ownership stake in Calidi Biotherapeutics, Inc.

Summary

• Armistice Capital, LLC and Steven Boyd collectively report beneficial ownership of 117,368 shares of Calidi Biotherapeutics, Inc. Common Stock.
• This ownership represents 4.99% of Calidi Biotherapeutics, Inc.'s outstanding Common Stock.
• Armistice Capital, LLC, as the investment manager for Armistice Capital Master Fund Ltd., exercises shared voting and dispositive power over these securities.
• Steven Boyd, as the managing member of Armistice Capital, is also deemed to beneficially own these shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of Calidi Biotherapeutics, Inc.

Sentiment

Score: 6

Explanation: The filing is largely neutral as it is a routine disclosure of beneficial ownership. However, the presence of an institutional investor like Armistice Capital holding a stake can be viewed as a minor positive signal of investor interest.

Positives

• An institutional investor, Armistice Capital, LLC, holds a significant stake in Calidi Biotherapeutics, Inc., which may signal investor confidence.

Negatives

• No specific negative information is disclosed regarding Calidi Biotherapeutics, Inc.'s operations or financial health.

Risks

• The reporting persons hold less than 5% of the class, indicating they do not possess a controlling interest or significant influence over Calidi Biotherapeutics, Inc.'s strategic direction.

Future Outlook

This beneficial ownership statement does not contain forward-looking statements or guidance regarding Calidi Biotherapeutics, Inc.'s future outlook.

Management Comments

• No direct management comments from Calidi Biotherapeutics, Inc. are included.

Industry Context

The reported stake reflects an institutional investor's position in a biotechnology company, a common investment strategy for portfolio diversification within growth sectors.

Comparison to Industry Standards

• This beneficial ownership filing does not provide financial or operational data for direct comparison to industry-specific benchmarks or comparable companies.

Stakeholder Impact

• Shareholders: Provides transparency on significant institutional holdings, which can offer insights into investor sentiment.

Next Steps

• No specific future actions or milestones for Calidi Biotherapeutics, Inc. are detailed.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of beneficial ownership and does not contain new information that would significantly alter the investment thesis for Calidi Biotherapeutics, Inc. The reported stake is below the 5% threshold for activist filings, and the stated purpose is not to influence control, suggesting a passive investment. Therefore, a 'hold' recommendation is appropriate as there are no new catalysts or red flags presented.

Keywords

Calidi Biotherapeutics, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, Investment, Biotechnology