---
schema_version: "secwatch.filing_event.v1"
accession: "0001779372-23-000009"
form_type: "8-K"
ticker: "BEAT"
cik: "0001779372"
company_name: "HeartBeam, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:25:57.402097+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HeartBeam closes $25M secondary offering; shifts commercial launch to 2024

## Summary
- Offering of 16.67M shares at $1.50/share closed on May 2, 2023; net proceeds $23.2M.
- No material commercial revenue expected in 2023; cash runway extended into late 2024.
- Company to focus on FDA 510(k) clearance for HeartBeam AIMIGo 12-lead equivalence; submission planned late 2023.
- Strategic shift to delay commercial launch until after 12-lead equivalence clearance, targeting 2024.
- Placement agent Public Ventures received warrants for 1.67M shares; $10M of proceeds earmarked for FDA work and limited market releases.

## SEC filing metadata
- accession: 0001779372-23-000009
- form_type: 8-K
- ticker: BEAT
- cik: 0001779372
- company_name: HeartBeam, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1779372/000177937223000009/0001779372-23-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1779372/000177937223000009/beat-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001779372-23-000009
- JSON: https://secwatch.observer/filing/0001779372-23-000009.json
- Plain text: https://secwatch.observer/filing/0001779372-23-000009.txt

## Key facts
- Material Agreements
  HeartBeam, Inc. entered into Placement Agency Agreement with Public Ventures, LLC (effective 2023-04-20).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Public Ventures, LLC
  - Effective: 2023-04-20
  source text: Placement Agency Agreement dated as of April 20, 2023 between the Company and Public Ventures, LLC (the "Placement Agent")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1779372/000177937223000009/0001779372-23-000009-index.htm
- Material Agreements
  HeartBeam, Inc. entered into Subscription Agreement with the investors signatory thereto (the "Investor") valued at $23.2 million (effective 2023-05-02).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the investors signatory thereto (the "Investor")
  - Value: $23.2 million
  - Effective: 2023-05-02
  source text: A Subscription Agreement, dated as of May 2, 2023 between the investors signatory thereto (the "Investor") and the Company whereby the Investor agrees to buy and the Company agrees to sell to Investor such number of shares of Common Stock set forth on the signature page
  evidence_url: https://www.sec.gov/Archives/edgar/data/1779372/000177937223000009/0001779372-23-000009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.