Nuwellis terminates distribution deal with SeaStar Medical, receives $900k settlement

Nuwellis, Inc.

SeaStar pays Nuwellis $900k in three installments: $500k (less offsets) by Oct 22, $250k by Nov 30, $150k by Dec 31, 2024.
Distribution and supply agreements for QUELIMMUNE terminated effective Oct 20, 2024; Nuwellis to return remaining inventory.
Settlement resolves SeaStar's May 2024 breach notice (disputed by Nuwellis) with no admission of liability.
Parties mutually release all claims related to the agreements and agree to non-disparagement.

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