Nuwellis regains Nasdaq compliance with bid price and equity listing rules

Nuwellis, Inc.

Received Nasdaq confirmation of compliance with minimum bid price (Rule 5550(a)(2)) and stockholders' equity (Rule 5550(b)(1)).
Company raised $5.1M in gross proceeds from warrant exercises and a November warrant inducement transaction.
Implemented a 1:35 reverse stock split on June 26, 2024 to help regain bid price compliance.
Subject to mandatory panel monitor for one year from December 17, 2024; no further cure period if non-compliant.
CEO Nestor Jaramillo cited balance sheet improvements including reduced liabilities and reclassified warrant liabilities.

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