Nuwellis Announces $916,000 Registered Direct Offering Pricing
Nuwellis, Inc. (Nasdaq: NUWE), a medical technology firm focused on improving the lives of those affected by fluid overload, has revealed the pricing details of its registered direct offering. This offering consists of 496,901 shares of the company's common stock, priced at $1.8450 per share, and complies with Nasdaq regulations.
Offering Details
In addition to the registered offering, there will be a concurrent private placement. Investors participating in this placement will receive warrants that allow them to purchase an equal number of shares at an exercise price of $1.72 per share. These warrants can be exercised immediately upon issuance and will remain valid for five years from the date the registration statement becomes effective.
Expected Closing Date
The closing of both the registered direct offering and the private placement is expected to take place around the end of August, pending the satisfaction of standard closing conditions.
Use of Proceeds
Nuwellis anticipates raising approximately $916,000 from this offering, before accounting for placement agent fees and other associated costs. The net proceeds will primarily be allocated for working capital and general corporate purposes, underscoring the company’s commitment to advancing medical technologies.
Regulatory Compliance and Information
The securities being offered are part of a Shelf Registration Statement on Form S-3 that has been filed with the United States Securities and Exchange Commission (SEC). This offering is conducted solely through a prospectus, which includes a prospectus supplement that will also be filed with the SEC. Interested individuals can obtain copies of these documents through the SEC’s website or by reaching out to the placement agent directly.
Warrant Information
The warrants and the underlying common stock are being offered in a private placement in accordance with Section 4(a)(2) of the Securities Act of 1933 and Regulation D. This means that they are not registered under the Act or applicable state laws, limiting their offer or sale in the United States unless specific registration requirements are fulfilled.
About Nuwellis
Nuwellis is leading the way in medical technology innovation for individuals dealing with fluid overload. Their flagship product, the Aquadex SmartFlow system, is tailored for ultrafiltration therapy and offers a clinically validated solution for patients who do not respond to conventional medical management.
Understanding the Aquadex SmartFlow System
The Aquadex SmartFlow system simplifies the process of removing excess fluid from patients experiencing hypervolemia. It is appropriate for both short-term and long-term use in patients weighing 20 kg or more, and treatments must be administered by trained healthcare professionals in suitable clinical environments.
Contact Information
For more information, Nuwellis can be reached at:
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 is intended to generate funds for working capital and general corporate purposes, which will support ongoing innovation at Nuwellis.
What are the terms of the warrants issued in the offering?
The warrants enable investors to purchase shares at an exercise price of $1.72 and can be exercised immediately for a period of five years after the registration statement becomes effective.
Who is managing the offering for Nuwellis?
Ladenburg Thalmann & Co. Inc. is serving 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; however, the warrants themselves are not registered.
