SeaStar Medical falls after pricing public offering

SeaStar Medical Holding

31/01/2025 13:38

** Shares of medical device maker SeaStar Medical Holding
 ICU.O  fall 14.5% to $1.48 premarket
    ** ICU says it is selling ~3.5 mln shares of its common
stock to an investor for $6 mln, through public offering
    ** Offering is priced at $1.70/shr of common stock;
represents a 1.7% discount to the stock's last close
    ** ICU says it will also give the investor warrants to buy
an additional 3.5 mln shares in the future in a private
placement
    ** The funds will be used for general business purposes -
ICU
    ** ICU has 6 mln outstanding shares, with market cap of
$10.4 mln - LSEG
    ** H.C. Wainwright & Co is acting as the exclusive financial
advisor with the offering
    ** ICU fell 85% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))