Nuwellis closes public offering raising $2.25M through Series J Preferred and Warrants

Nuwellis, Inc.

Gross proceeds of $2.25M from sale of 150,000 Units at $15 each in a best-efforts offering.
Each Unit: one share of Series J Convertible Preferred (liquidation preference $25) and one warrant to buy 0.5 share of preferred.
Preferred stock convertible into common at $1.01/share; carries 5% PIK dividend paid quarterly.
Warrants exercisable at $7.50 per 0.5 share of preferred, expiring three years from issuance.
Proceeds to be used for working capital and general corporate purposes.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Nuwellis, Inc.: Filed Certificate of Designation for Series J Convertible Redeemable Preferred Stock (effective 2023-10-16).

Change: charter amendment
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware to establish the powers, preferences and rights of the shares of the Series J Convertible Preferred Stock and the qualifications, limitations or restrictions thereof.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Nuwellis, Inc. entered into Placement Agency Agreement with Lake Street Capital Markets, LLC and Maxim Group LLC valued at Issuance and sale of Units consisting of Series J Convertible Preferred Stock and Warrants, gross pr (effective 2023-10-12).

Action: entry
Agreement: underwriting
Counterparty: Lake Street Capital Markets, LLC and Maxim Group LLC
Value: Issuance and sale of Units consisting of Series J Convertible Preferred Stock and Warrants, gross pr
Effective: 2023-10-12

Exact text from the filing

On October 12, 2023, Nuwellis, Inc. (the “ Company ”) entered into a Placement Agency Agreement (the “ Placement Agency Agreement ”) with Lake Street Capital Markets, LLC and Maxim Group LLC (the “ Placement Agents ”), pursuant to which the Company issued and sold, in a best efforts registered public offering by the Company (the “ Offering ”), 150,000 units (each a “ Unit ” and collectively, the “ Units ”), with each Unit consisting of (A) one share of the Company’s Series J Convertible Redeemable Preferred Stock, par value $0.0001 per share (the “ Series J Convertible Preferred Stock ”), and (B) one warrant (each, a “ Warrant ” and collectively, the “ Warrants ”) to purchase one-half of one (0.50) share of Series J Convertible Preferred Stock, at a price to the public of $15.00 per Unit, less placement agent fees and commissions.

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188 governance changes filed in the last 30 days. Browse all governance changes →

Nuwellis, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-048531

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