SeaStar Medical raises $4 million in registered direct offering

SeaStar Medical Holding Corporation (NASDAQ: ICU) announced it has entered into a definitive agreement for a registered direct offering to raise approximately $4 million in gross proceeds. The company will issue 5,242,464 shares of common stock at $0.763 per share.

The offering includes a concurrent private placement of unregistered warrants to purchase up to 5,242,464 shares of common stock. The warrants carry an exercise price of $0.638 per share, are exercisable immediately upon issuance, and will expire five years following the effective date of the resale registration statement.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The closing is expected to occur on or about July 10, 2025, subject to customary closing conditions.

SeaStar Medical stated it intends to use the net proceeds for general corporate purposes, which may include additions to working capital and capital expenditures.

The shares are being offered pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on December 8, 2023, and declared effective on December 22, 2023.

SeaStar Medical operates as a commercial-stage healthcare company focused on treatments for critically ill patients facing organ failure. The company's first commercial product, QUELIMMUNE, received FDA approval in 2024 for treating life-threatening acute kidney injury due to sepsis in critically ill pediatric patients.

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