Edoc Acquisition files a preliminary proxy and prospectus on its proposed merger with Calidi Biotherapeutics.
The SPAC in May lowered the aggregate value of the securities to be issued to Calidi from $400 million to $380 million.
Vested in-the-money Calidi incentive stock options will be included in the merger consideration deliverable to Calidi security holders at closing, if the SPAC’s stockholders approve the deal.
As announced in February, the transaction includes gross proceeds of up to $92 million in trust at Edoc (less any redemptions by existing shareholders) and a concurrent $25 million PIPE from institutional investors. Additionally, Edoc entered into backstop arrangements for the purchase of up to 2.2 million shares.
Calidi is a clinical-stage biotechnology company developing cell-based delivery of oncolytic viruses. Read more.
