SeaStar Medical announces $4M registered direct offering

SeaStar Medical (ICU) Holding Corporation announced it has entered into a definitive agreement for the issuance and sale of an aggregate of 5.24M shares of its common stock at a purchase price of 76.3c per share of common stock, in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, SeaStar Medical will issue and sell unregistered warrants to purchase up to 5.24M shares of common stock. The warrants will have an exercise price of 63.8c per share, will be exercisable immediately upon issuance and will expire five years following the effective date of the resale registration statement registering the shares of common stock issuable upon exercise of the warrants. The closing of the offering is expected to occur on or about July 10, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $4M. 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 placement agent for the offering.