Nuwellis Announces $916,000 Registered Direct Offering
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Nuwellis Announces Pricing of $916,000 Registered Direct Offering
Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company dedicated to transforming the lives of individuals affected by fluid overload, has announced the pricing of a registered direct offering. The offering comprises 496,901 shares of the Company’s common stock at a price of $1.8450 per share and is executed under Nasdaq rules.
Details of the Offering
The offering will also include a concurrent private placement, where investors will receive warrants to purchase an equal number of shares at an exercise price of $1.72 per share. These warrants will be exercisable immediately following issuance and will have a term of five years from the registration statement’s effectiveness.
Expected Closing Date
The closing of the registered direct offering and the private placement is anticipated to occur around the end of August, contingent on fulfilling customary closing conditions.
Use of Proceeds
Nuwellis expects to raise approximately $916,000 from this offering, prior to deductions for placement agent fees and other expenses. The net proceeds will primarily be directed towards working capital and general corporate purposes, reinforcing the company’s commitment to innovating medical technologies.
Regulatory Compliance and Information
The securities offered are being made under a Shelf Registration Statement on Form S-3 filed with the United States Securities and Exchange Commission (SEC). This offering is conducted exclusively through a prospectus that includes a prospectus supplement, which will be filed with the SEC. Interested parties may obtain copies of these documents via the SEC’s website or by contacting the placement agent directly.
Warrant Information
Warrants and the common stock underlying them are being offered in a private placement aligned with Section 4(a)(2) of the Securities Act of 1933 and Regulation D. This means they are not registered under the Act or relevant state laws, restricting their offer or sale within the United States unless specific registration requirements are met.
About Nuwellis
Nuwellis is at the forefront of medical technology innovation aimed at individuals suffering from fluid overload. The company’s flagship product, the Aquadex SmartFlow system, is designed for ultrafiltration therapy, providing a clinically proven solution tailored for patients who do not respond to standard medical management.
The Aquadex SmartFlow System Explained
The Aquadex SmartFlow system streamlines the process of excess fluid removal from patients enduring hypervolemia. It's suitable for both temporary and extended use in patients weighing 20 kg or more, and treatments must be conducted by trained healthcare providers within appropriate clinical settings.
Contact Information
For further information, Nuwellis can be contacted through the following:
Investors:
Robert Scott
Chief Financial Officer, Nuwellis, Inc.
Email: ir@nuwellis.com
Vivian Cervantes
Gilmartin Group LLC
Email: vivian.cervantes@gilmartinir.com
Frequently Asked Questions
What is the main purpose of the $916,000 offering?
The offering aims to raise funds for working capital and general corporate purposes, supporting the ongoing innovation at Nuwellis.
What are the terms of the warrants issued in the offering?
The warrants allow investors to purchase shares at an exercise price of $1.72 and can be exercised immediately for five years following the registration statement's effectiveness.
Who is handling the offering for Nuwellis?
Ladenburg Thalmann & Co. Inc. is acting as the exclusive placement agent for the offerings.
What is the Aquadex SmartFlow system?
The Aquadex SmartFlow system is designed for ultrafiltration therapy, effectively removing excess fluids from patients suffering from fluid overload.
Are the securities being offered registered?
Yes, the offering is conducted under a Shelf Registration Statement with the SEC, but the warrants themselves are not registered.
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