Nuwellis prices 150,000 units at $15.00 in public offering
The Fly

Nuwellis prices 150,000 units at $15.00 in public offering

Nuwellis announced the pricing of a public offering of 150,000 units, with each Unit consisting of one share of the Company’s Series J Convertible Redeemable Preferred Stock, par value $0.0001 per share, with a liquidation preference of $25.00 per share, and one warrant to purchase one-half of one share of Series J Convertible Preferred Stock. The offering is expected to close on October 17, 2023, subject to customary closing conditions. The purchase price for one Unit is $15.00, which reflects the issuance of the Series J Convertible Preferred Stock with an original issue discount. The Series J Convertible Preferred Stock has a term of three years and is convertible at the option of the holder at any time into shares of the Company’s common stock at a conversion price of $1.01. Lake Street Capital Markets, LLC and Maxim Group LLC are acting as placement agents for the offering. The gross proceeds to Nuwellis from the offering, before underwriting discounts and commissions and offering expenses, are expected to be approximately $2.25 million. Nuwellis intends to use the net proceeds from the offering for working capital and for general corporate purposes.

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