NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the warrants — ticker symbol CLDI WS — of Calidi Biotherapeutics, Inc. (the “Company”), each whole warrant exercisable for 1/10^th of a share of common stock at an exercise price of $115.00 per whole share of common stock, from the NYSE American. Trading in the Company’s warrants will be suspended immediately. Trading in the Company’s common stock — ticker symbol CLDI — will continue on the NYSE American.

NYSE Regulation staff has determined that the Company’s warrants are no longer suitable for listing pursuant to Section 1001 of the NYSE American Company Guide due to the low trading price of such warrants.

The Company has a right to a review of NYSE Regulation staff’s determination to delist the Company’s warrants by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s warrants upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

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