Alafi Capital Company LLC disclosed a 17.1% stake in CalciMedica, Inc. common stock. The Schedule 13D was filed on Jul. 10, 2026, shifting from prior Schedule 13G filings in 2025. The position includes shares bought in a June 2026 private placement and earlier purchases, plus warrants with ownership limits.

Investor Intent

Alafi Capital built its position through a January 2024 private placement, open‑market buys in 2024 and 2025, and a June 2026 private placement that added 3,529,192 shares. The firm expects to receive additional Series A and Series B warrants only “upon receipt of Stockholder Approval,” with exercise prices of $0.8033 and $1.00, respectively.

CalciMedica capped warrant exercises with beneficial ownership blockers. The 2024 warrant carries a 4.99% blocker, and the June 2026 Warrants “may not be exercised” if doing so would push ownership above a 19.99% limit; the company also agreed to register resales of the shares tied to these securities.

Investor's Background

Alafi Capital is a venture capital investment entity based in Emeryville, California, managed by Christopher D. Alafi. The firm invests primarily in healthcare and life sciences companies, often backing programs at the clinical and preclinical stages. It typically takes meaningful minority positions and supports portfolio companies through key development milestones.

Original SEC Filing: CalciMedica, Inc. [ CALC ] - SCHEDULE 13D - Jul. 10, 2026