SeaStar Medical Secures $6 Million in Direct Stock Offering

SeaStar Medical's Successful Capital Raise

SeaStar Medical Holding Corporation (NASDAQ: ICU) has recently finalized a significant milestone by closing a $6 million registered direct offering. This momentous occasion highlights the company’s capacity to generate capital through its innovative strategies while maintaining compliance with Nasdaq regulations.

Details of the Offering

This particular offering involved a strategic collaboration with a single institutional investor, resulting in the issue and sale of approximately 3.5 million shares of common stock. This offering was conducted under Nasdaq rules, showcasing SeaStar’s adherence to regulatory standards. Alongside this, the company also engaged in a private placement, issuing warrants to purchase an equal aggregate number of shares, enhancing its funding capabilities.

Pricing Structure Overview

Each share of common stock was priced at $1.70, while pre-funded warrants were slightly lower at $1.699. An appealing feature of the pre-funded warrants is their low exercise price of just $0.001, allowing immediate exercise upon issuance. Comparatively, the traditional warrants tied to the offering come with a slightly higher exercise price, set at $1.70, and require shareholder approval for activation, creating a sense of shared investment in SeaStar's future.

Utilization of Proceeds

With the conclusion of this offering, SeaStar Medical aims to utilize the net proceeds for various corporate purposes. This plan not only underscores the company's commitment to enhancing its working capital but also supports expected capital expenditures that can propel its ongoing developments and innovations.

Brokerage Relations and Future Steps

H.C. Wainwright & Co. served as the exclusive investment bank for this transaction, further solidifying the relationship between SeaStar Medical and leading financial institutions. As they inch closer to expanding their therapeutic products, the financial backing will likely play a crucial role in increasing their operational capacity and exploring new growth avenues.

About SeaStar Medical

SeaStar Medical operates at the forefront of therapeutic medical technology. The company specializes in redefining extracorporeal therapies, which aim to mitigate the negative impacts of excessive inflammation on essential organs. Their innovative approaches focus on developing cell-directed extracorporeal therapies that directly target the effector cells, playing a pivotal role in addressing systemic inflammation among critically ill patients. The commitment to innovation and excellence distinguishes SeaStar as a noteworthy player in the medical technology field.

Investing in Medical Innovations

As SeaStar Medical forges ahead with its novel technologies, the $6 million raised will not only bolster its capital base but also enhance its commitment to saving lives through advanced medical solutions. Investors looking for opportunities in medical advancements may see SeaStar as a company dedicated to making meaningful impacts on patient outcomes.

Frequently Asked Questions

What is the purpose of the $6 million raised by SeaStar Medical?

The funds will be utilized for general corporate purposes, including working capital and capital expenditures.

Who was the underwriter for the registered direct offering?

H.C. Wainwright & Co. acted as the exclusive investment bank for the company during this offering.

What are the terms of the warrants associated with the offering?

The warrants are exercisable upon shareholder approval and will last for five years post-approval, with an exercise price of $1.70.

How does SeaStar Medical benefit from private placements?

Private placements allow SeaStar Medical to raise capital quickly while maintaining flexibility in financing options, targeting specific investor interests.

What technologies does SeaStar Medical focus on?

SeaStar Medical specializes in developing therapies to reduce inflammation and its consequences on vital organs, targeting the underlying causes of systemic inflammation.

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