SeaStar Medical raises $9.0M in registered direct offering and private placement of shares and warrants

SeaStar Medical Holding Corp

Gross proceeds of approx. $9.0M from sale of common stock, pre-funded warrants, Series A and B warrants at combined price of $0.8302/unit.
Offering includes 10,840,761 common shares (or pre-funded warrants) plus warrants for up to 16,261,142 additional shares.
Maxim Group LLC acted as sole placement agent; offering expected to close on or about January 30, 2024.
Institutional investor agreed to waive certain optional redemption rights on existing convertible notes for 60 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SeaStar Medical Holding Corp entered into Securities Purchase Agreement with a single institutional investor valued at approximately $9.0 million (effective 2024-01-26).

Action: entry
Agreement: equity purchase
Counterparty: a single institutional investor
Value: approximately $9.0 million
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, SeaStar Medical Holdings Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a single institutional investor (the “Purchaser”), pursuant to which the Company will issue to the Purchaser, (i) in a registered direct offering, 6,304,545 shares of the Company’s common stock (the “Shares”), par value $0.0001 per share (“Common Stock”), and pre-funded warrants to purchase 4,536,216 shares of Common Stock (the “Pre-Funded Warrants”) with an exercise price of $0.0001 per share, and (ii) in a concurrent private placement, series A warrants to purchase 10,840,761 shares of Common Stock (the “Series A Common Warrants”) and series B warrants to purchase 5,420,381 shares of Common Stock (the “Series B Common Warrants” and together with the Series A Common Warrants, the “Common Warrants”) each with an exercise price of $0.8302.

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Source: SEC EDGAR

accession 0000929638-24-000283

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