8-K
filed August 30, 2023, 7:59 PM ET
ticker ICU
CIK 0001831868
debt
confidence high
sentiment neutral
materiality 0.60
SeaStar Medical Holding Corp (ICU): debt financing — SeaStar Medical closes second tranche convertible note and warrant; adjusts conversion price on all notes
SeaStar Medical Holding Corp
- Issued second tranche convertible note principal $543,478.26 and warrant for 738,791 shares.
- Conversion price set to lowest of $0.20, prior day closing, or 5-day average for all existing notes.
- Received $500k additional subscription from institutional investor 3i, LP under $2M SPA amendment.
- Waived condition that VWAP > $0.20 for prior 10 trading days to close this tranche.
- Total notes issued under SPA now include prior closings from March, May, and August 2023.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SeaStar Medical Holding Corp incurred convertible notes of $543,478.26.
- Instrument
- convertible notes
- Principal
- $543,478.26
- Event
- incurrence
Exact text from the filing
On August 30, 2023, the Company closed the second tranche by issuing a Note with an initial conversion price equal to the lowest of (i) $0.20, (ii) the closing sale price of Common Stock on the trading day immediately preceding the date of conversion of the Note, and (iii) the average closing sale price of the Common Stock for the five (5) consecutive trading days immediately preceding the conversion date of the Note, in a principal amount of $543,478.26
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SeaStar Medical Holding Corp amended convertible notes.
- Instrument
- convertible notes
- Event
- amendment
Exact text from the filing
the Company entered into a side letter with the Purchaser (the “Letter Agreement"), pursuant to which the Company agrees to adjust the conversion price of all Notes issued under the SPA
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
SeaStar Medical Holding Corp entered into Letter Agreement with an institutional investor (effective 2023-08-30).
- Action
- entry
- Counterparty
- an institutional investor
- Effective
- 2023-08-30
Exact text from the filing
the Company entered into a side letter with the Purchaser (the “Letter Agreement”), pursuant to which the Company agrees to adjust the conversion price of all Notes issued under the SPA
View on SEC.gov
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