First Light Acquisition in an 8-K today said it entered into separate non-redemption agreements with \Great Point and Funicular Funds, which agreed to reverse the redemption of 205,714 shares.
Immediately upon consummation of the business combination with Calidi Biotherapeutics, the merged company will pay the non-redeemers approximately $1.08 million, representing the 205,714 shares for which redemptions are reversed minus 102,857 committed shares, multiplied by the redemption price.
The SPAC’s shareholders voted Monday in favor of the deal with Calidi, which is focused on developing oncolytic viral therapies with stem cell-based delivery platforms to treat a wide range of cancers with significant unmet needs.
As announced in January, the deal has a pro forma enterprise valuation of approximately $335 million.
A new PIPE agreement with Marybeth Wootton would bring $239,998.50 to the deal, according to the 8-K.
A new forward purchase agreement covering 660,000 shares involves participation by Great Point Capital, Funicular Funds and Marybeth Wooton. Read more.
