Nuwellis (NUWE) Prices 3.48M Share Offering at $2.50/sh

Nuwellis, Inc. (NASDAQ: NUWE) (the “Company”) announced today the pricing of an underwritten public offering of 3,483,120 shares of its common stock at a price to the public of $2.50 per share, for gross proceeds of approximately $8.7 million prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. The Company has granted the underwriters an option, exercisable in whole or in part for 45 days, to purchase up to an additional 522,468 shares of its common stock at the public offering price, less the underwriting discounts and commissions.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with the offering. Maxim Group LLC is acting as lead manager for the offering.

The Company intends to use the net proceeds for the offering for general corporate purposes, including the continued investment in commercialization efforts.

The closing of the offering is expected to take place on or about September 17, 2021, subject to the satisfaction of customary closing conditions.

The offering is made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-256797) that was filed by the company with the Securities and Exchange Commission (“SEC”) and was declared effective on July 2, 2021. The Company will file a final prospectus supplement with the SEC relating to such shares of common stock. Copies of the final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, at the SEC’s website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., 640 Fifth Avenue, 4th Floor, New York, NY 10019, or by email at [email protected].

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