First Light Acquisition Group, Inc. (NYSE: FLAG) announced in a press release today that it will once again be adjourning its completion vote with clinical-stage drug developer Calidi Biotherapeutics.
The SPAC originally intended to hold the special meeting on August 22 before pushing it back to August 24. It has now been announced that the meeting will be postponed once again, this time to August 28th at 10:30 a.m. Eastern Time.
First Light inked its $335 million deal with Calidi earlier this year in January. La Jolla, California-based Calidi Biotherapeutics is a clinical-stage immuno-oncology company with proprietary technology that delivers oncolytic viruses for targeted therapy against difficult-to-treat cancers.
The SPAC has seen 82% of its shares redeemed through a pair of extensions, but still has about $42 million remaining in its trust. First Light must maintain at least $15 million in cash available in order for the deal to close.
It recently secured $25 million in additional funding led by Jackson Investment Group, which has put forward $5 million as the first stage of a Series B. The remaining $20 million is conditioned upon Calidi closing its combination with First Light and includes some promote shares as an inducement to investors from First Light’s sponsor and Metric Finance Holdings.
Drug developer Calidi originally planned to go public through a $449 million deal with EDOC (Nasdaq:ADOC) in February 2022. However, months later, both parties agreed to cancel the merger.
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....