SeaStar Medical Announces Closing of $10 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Summary
DENVER, July 11, 2024 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU) (SeaStar Medical) announces that it has closed its previously announced registered offering for the issuance and sale of an aggregate of 947,868 shares of its common stock at a purchase price of $10.55 per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. In addition, SeaStar Medical has issued in a concurrent private placement unregistered warrants to purchase up to 947,868 shares of common stock. 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, and for the repayment of certain indebtedness.The shares of common stock described above (but not the unregistered warrants issued in the concurrent private placement or the shares of common stock underlying such unregistered warrants) were offered by SeaStar Medical pursuant to a shelf registration statement on Form S-3 (File No. SeaStar Medicals novel technologies rely on science and innovation to provide life-saving solutions to critically ill patients. The Company is developing and commercializing cell-directed extracorporeal therapies that target the effector cells that drive systemic inflammation, causing direct tissue damage and secreting a range of pro-inflammatory cytokines that initiate and propagate imbalanced immune responses.For more information visit www.seastarmedical.com or visit us on LinkedIn or X.This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1955.