HeartBeam Inc. (NASDAQ: BEAT) completed an underwritten public offering of 12.5 million shares of common stock, raising $10 million in gross proceeds before deducting underwriting discounts and expenses. The offering closed on April 16.

The medical technology company's first commercial customer, ClearCardio, led the offering alongside HeartBeam's executive leadership, board members, existing investors, and institutional investors. Titan Partners, a division of American Capital Partners, served as the sole bookrunner.

HeartBeam plans to use the net proceeds to support commercialization of its FDA-cleared 12-lead synthesized ECG system, advance development of its extended-wear patch and heart attack detection initiatives, enhance AI capabilities, and for working capital and general corporate purposes.

The Santa Clara, California-based company develops cardiac monitoring technology designed to collect ECG signals in three dimensions and synthesize them into a 12-lead ECG. The company's 3D ECG technology received FDA clearance for arrhythmia assessment in December 2024, and its 12-lead ECG synthesis software received FDA clearance for arrhythmia assessment in December 2025.

The offering was conducted under a shelf registration statement filed with the Securities and Exchange Commission that became effective on March 17. HeartBeam holds more than 20 issued patents related to its technology platform.