SeaStar Medical Announces Closing of $6 Million Registered Direct Offering Priced At-the-Market

Core Viewpoint - SeaStar Medical Holding Corporation has successfully closed a registered direct offering, raising approximately $6 million through the issuance of 3,529,412 shares of common stock and accompanying warrants [1][3]. Offering Details - The combined offering price for each share of common stock and accompanying warrants was set at $1.70, with pre-funded warrants priced at $1.699 [2]. - The pre-funded warrants have an exercise price of $0.001 per share and are exercisable immediately upon issuance, while the warrants have an exercise price of $1.70 per share and require shareholder approval for exercise [2]. Use of Proceeds - The net proceeds from the offering are intended for general corporate purposes, which may include working capital and capital expenditures [3]. Regulatory Compliance - The securities were offered under a shelf registration statement on Form S-3, which was filed with the SEC on December 8, 2023, and declared effective on December 22, 2023 [4]. - The warrants issued in the concurrent private placement were offered under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Act or applicable state securities laws [5]. Company Overview - SeaStar Medical is a commercial-stage therapeutic medical technology company focused on developing extracorporeal therapies aimed at reducing excessive inflammation in vital organs [7]. - The company is innovating solutions for critically ill patients by targeting effector cells that drive systemic inflammation [7].