First Light Acquisition in an 8-K said shareholders yesterday voted in favor of merging with Calidi Biotherapeutics. The vote had twice been postponed.
The target is focused on developing oncolytic viral therapies with stem cell-based delivery platforms to treat a wide range of cancers with significant unmet needs.
The SPAC also inked a forward purchase agreement with several Meteora funds, which would buy up to 340,000 shares. Meteroa also agreed to reverse the redemption of 129,524 shares, according to the 8-K.
As announced in January, the deal has a pro forma enterprise valuation of approximately $335 million.
This was Calidi’s second attempt to go public via a SPAC transaction. Edoc Acquisition called off its merger plan with Calidi a year ago. Edoc in May 2022 had lowered the aggregate value of the consideration to Calidi from $400 million to $380 million. Read more.
