SeaStar Medical raises $4M in public offering, cuts executive salaries by 20%

SeaStar Medical Holding Corp

SeaStar Medical priced a public offering of 6,153,847 shares, pre-funded warrants, and Series A/B warrants at $0.65 per combined unit, expecting approximately $4M gross proceeds.
The company reduced CEO Eric Schlorff, CFO David Green, and CMO Kevin Chung's annual base salaries by 20% to cut monthly operating expenses by about $50,000.
Nasdaq granted an exception until June 22, 2025, for SeaStar Medical to demonstrate compliance with the $2.5M stockholders' equity requirement; company believes it is now compliant.
In May and June 2025, approximately $1.2M of employee compensation and director fee liabilities were extinguished through waivers.
The offering closed on June 23, 2025, with H.C. Wainwright as placement agent; proceeds for general corporate purposes.

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