SeaStar Medical Announces $6 Million Registered Direct Offering With A Single Institutional Investor For The Issuance And Sale Of An Aggregate Of 3,529,412 Shares Of Its Common Stock; In A Concurrent Private Placement, The Company Also Agreed To Issue And Sell To The Investor Warrants To Purchase Up To An Aggregate Of 3,529,412 Shares Common Stock. The Combined Offering Price For Each Share Of Common Stock And Accompanying Warrants Is $1.70
SeaStar Medical Holding Corporation (NASDAQ:ICU) (SeaStar Medical) today announced it has entered into a securities purchase agreement with a single institutional investor for the issuance and sale of an aggregate of 3,529,412 shares of its common stock (or pre-funded warrants in lieu thereof) in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to an aggregate of 3,529,412 shares common stock. The combined offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrants is $1.70 (or $1.699 with respect to pre-funded warrants). The pre-funded warrants will have an exercise price of $0.001 per share, will be exercisable immediately upon issuance, and will not expire until fully exercised. The warrants will have an exercise price of $1.70 per share, will be exercisable upon shareholder approval and will expire five years following the shareholder approval date.
The closing of the offering is expected to occur on or about February 3, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $6 million. SeaStar Medical intends to use the net proceeds of this offering for general corporate purposes, which may include additions to working capital and capital expenditures.
H.C. Wainwright & Co. is acting as the exclusive financial advisor to SeaStar Medical in connection with the offering.
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