SeaStar Medical announces pricing of $9M registered direct offering

SeaStar Medical Holding has entered into a securities purchase agreement with a single institutional investor to purchase 10,840,761 shares of common stock in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell to the investor Series A warrants to purchase up to an aggregate 10,840,761 shares of common stock, and Series B warrants to purchase up to an aggregate 5,420,381 shares of common stock. The combined effective offering price for each share of common stock, accompanying Series A warrants and Series B warrants is $0.8302. The Series A warrants will have an exercise price of $0.8302 per share, expire five years from the date of stockholder approval, and will become exercisable upon the date of stockholder approval. The Series B warrants will have an exercise price of $0.8302 per share, expire one year from the date of stockholder approval, and will become exercisable upon the date of stockholder approval. The Company expects to receive gross proceeds in the amount of approximately $9.0 million from the offering. Maxim Group LLC is acting as the sole placement agent for the offering. The offering is expected to close on or about January 30, 2024, subject to the satisfaction of customary closing conditions.