Summary by Moomoo AI
On July 3, 2024, SeaStar Medical Holding Corporation notified The Nasdaq Stock Market LLC of a possible violation of Nasdaq Listing Rule 5635(d)(2) concerning the issuance of shares without shareholder approval. The issue arose from the conversion of convertible notes and exercise of warrants issued to an institutional investor. These financial instruments were part of a Securities Purchase Agreement from March 15, 2023, which was approved by shareholders at the Annual Meeting on June 28, 2023. Amendments to the agreement on August 7, 2023, and December 11, 2023, involved additional convertible notes and warrants, with adjustments to conversion and exercise prices. SeaStar Medical has requested Nasdaq to review the transactions for compliance and has committed to adhering to Nasdaq's shareholder approval requirements for future securities issuances.
