SeaStar Medical Announces $4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - SeaStar Medical Holding Corporation has announced a definitive agreement for the issuance and sale of 5,242,464 shares of common stock at a price of $0.763 per share, along with unregistered warrants to purchase an equal number of shares at an exercise price of $0.638, aiming to raise approximately $4 million for general corporate purposes [1][2]. Group 1: Offering Details - The offering includes a registered direct offering priced at-the-market under Nasdaq rules and a concurrent private placement for unregistered warrants [1][2]. - The gross proceeds from the offering are expected to be around $4 million, with net proceeds intended for general corporate purposes, including working capital and capital expenditures [2]. Group 2: Regulatory and Compliance Information - The shares are being offered under a shelf registration statement previously filed with the SEC, which became effective on December 22, 2023 [3]. - The unregistered warrants are not registered under the Securities Act and cannot be sold in the U.S. without an effective registration statement or applicable exemption [4]. Group 3: Company Overview - SeaStar Medical is focused on transforming treatments for critically ill patients facing organ failure, with its first product, QUELIMMUNE, approved by the FDA in 2024 for life-threatening acute kidney injury in pediatric patients [6]. - The company’s Selective Cytopheretic Device therapy has received Breakthrough Device Designation for six therapeutic indications, indicating a potential for expedited approval processes [6]. - SeaStar is conducting a pivotal trial of its SCD therapy in adult patients with acute kidney injury, a condition affecting over 200,000 adults in the U.S. annually [6].