SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in SeaStar Medical Holding Corporation of Class Action Lawsuit and Upcoming Deadlines - ICU

Core Viewpoint - A class action lawsuit has been filed against SeaStar Medical Holding Corporation and certain officers for alleged violations of federal securities laws during the Class Period from October 31, 2022, to March 26, 2024, seeking damages for affected investors [1]. Company Overview - SeaStar Medical Holding Corporation operates in the medical technology sector, focusing on developing extracorporeal therapies to mitigate excessive inflammation on vital organs [4]. - The company was previously known as LMF Acquisition Opportunities, Inc., a special purpose acquisition company (SPAC) before merging with Legacy SeaStar [3]. Merger Details - The merger between SeaStar and Legacy SeaStar was announced on April 22, 2022, with an enterprise value of approximately $85 million [5]. - The combined company operates under the same management team as Legacy SeaStar, and the merger was approved by both boards of directors and a majority of Legacy SeaStar's voting power [5]. - The merger was completed on October 28, 2022, with the company's common stock beginning to trade on the Nasdaq under the ticker symbols "ICU" and "ICUCW" on October 31, 2022 [9]. Regulatory Developments - Legacy SeaStar submitted an application to the FDA for its Selective Cytopheretic Device (SCD) intended for treating pediatric acute kidney injury (AKI) on July 20, 2022 [6]. - The FDA rejected the HDE application on May 9, 2023, citing that it was not approvable in its current form, leading to a significant drop in SeaStar's stock price by 39.69% [11]. Financial Reporting Issues - The complaint alleges that SeaStar made materially false and misleading statements regarding its business and compliance policies, including deficiencies in compliance controls related to the HDE application and financial controls [10]. - On March 27, 2024, SeaStar announced it would restate its financial statements for the fiscal year ended December 31, 2022, and interim periods, impacting the accounting treatment of certain financial instruments [13].