SeaStar Medical Holding Corporation (ICU), a healthcare company focused on treating critical organ failure, has entered into a definitive agreement for a registered direct offering of 5,242,464 shares of its common stock or equivalents at $0.763 per share.
Concurrently, it will issue unregistered warrants in a private placement for the same number of shares at an exercise price of $0.638 per share. The warrants will be immediately exercisable and expire five years from the effective date of their resale registration.
The offering is expected to close on or about July 10, 2025, pending customary closing conditions. The offering is expected to generate approximately $4 million in gross proceeds, which SeaStar plans to use for general corporate purposes, including working capital and capital expenditures.
Thursday, ICU closed at $0.6139, down 14.15%, and is trading after hours at $0.6003, a further decline of 2.22%, on the NasdaqCM.
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