secwatch.observer — SEC 8-K summary
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Issuer:     Nuwellis, Inc. (NUWE)
CIK:        0001506492
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001140361-24-044033
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506492/000114036124044033/0001140361-24-044033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506492/000114036124044033/ef20037593_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-044033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer