SeaStar Medical's New Funding Initiative: A Game Changer for Health
SeaStar Medical Secures $4 Million in Funding
SeaStar Medical Holding Corporation (NASDAQ: ICU), a pioneering healthcare organization dedicated to improving treatments for critically ill patients, has announced a significant step forward by entering into a definitive agreement for a registered direct offering. This initiative aims to raise approximately $4 million through the issuance of over 5 million shares of its common stock. Each share is priced at $0.763, creating an opportunity for both current and prospective investors to contribute to the advancement of medical treatments that address urgent health needs.
Details of the Offering
The offering includes a concurrent agreement for the sale of unregistered warrants, allowing investors to purchase additional shares at an exercise price of $0.638. These warrants are set to be exercisable immediately upon issuance and will expire five years after the registration statement's effective date. This structure provides a flexible investment mechanism for those looking to support SeaStar Medical’s vision on critical healthcare solutions.
Role of H.C. Wainwright & Co.
H.C. Wainwright & Co. has been appointed as the exclusive placement agent for this offering, leveraging its expertise to facilitate the funding process smoothly. The closing of this offering is slated for a date soon to be determined, contingent upon meeting standard closing conditions.
Utilization of Proceeds
The funds raised through this direct offering will primarily support general corporate purposes, including enhancing working capital and pursuing further capital expenditures. SeaStar Medical is committed to optimizing its operational functions to deliver better healthcare outcomes and elevate its market position.
Important Regulatory Information
The shares being offered are made under a shelf registration statement that was previously approved by the Securities and Exchange Commission (SEC). This means that the investment process is aligned with regulatory standards designed to protect investors while allowing companies to raise funds efficiently.
About SeaStar Medical
Founded with a mission to transform clinical practices for patients facing severe health challenges, SeaStar Medical is at the forefront of developing innovative solutions. Its first commercial product, QUELIMMUNE (SCD-PED), is a groundbreaking therapy specifically designed for treating critically ill pediatric patients suffering from life-threatening acute kidney injury (AKI) due to septic conditions. Approved by the FDA in 2024, QUELIMMUNE stands out as the only approved treatment for this ultra-rare condition.
Commitment to Clinical Trials
SeaStar Medical continues to invest in research and development, currently conducting pivotal trials of its Selective Cytopheretic Device (SCD) therapy. This therapy targets adult patients with AKI who require continuous renal replacement therapy, a serious ailment affecting over 200,000 adults annually in the U.S. by providing therapeutic alternatives that were previously unavailable.
Transforming Patient Care
The company’s focus on patient-centric innovations highlights its commitment to advancing medical care and improving quality of life for patients. With Breakthrough Device Designation from the FDA, SeaStar is positioned to expedite the approval process for its therapies, which could lead to better reimbursement opportunities upon market entry.
Contact SeaStar Medical
For more information, potential investors and interested parties can reach out via email at IR@SEASTARMED.COM.
Frequently Asked Questions
What is the purpose of the $4 million offering?
The funds will be used for general corporate purposes, including enhancements to working capital and capital expenditures.
Who is managing the offering?
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.
What is QUELIMMUNE?
QUELIMMUNE is SeaStar Medical's approved treatment for critically ill pediatric patients suffering from severe acute kidney injury due to sepsis.
What are the warrants associated with this offering?
The warrants allow investors to purchase additional shares at a specified price shortly after their issuance and are valid for five years.
Where can I find more information about SeaStar Medical?
Visit SeaStar Medical's official website for more details on their innovative healthcare solutions.
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