SeaStar Medical Holding (ICU) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 26, 2024, SeaStar Medical Holdings Corporation agreed to a Securities Purchase Agreement with an institutional investor, issuing shares, pre-funded warrants, and series A and B warrants, expecting to raise about $9 million before expenses. These securities are offered through different mechanisms, with the common stock and pre-funded warrants under a shelf registration statement and the series A and B warrants in a private placement. The company has committed to registering the common warrant shares for resale and has agreed to terms with the placement agent, Maxim Group LLC, for their service fees and additional warrants. Concurrently, in March 2023, the company had an agreement on convertible notes with an investor who waived their redemption rights in this offering and agreed to a suspension period with a later option to redeem at a premium.
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For a comprehensive understanding of the announcement, you can read the full document here.
