Nuwellis, Inc. (Nasdaq: NUWE), a Minneapolis-based medical technology company, announced a registered direct offering of 1,310,890 shares of common stock at $2.59 per share, raising approximately $3.4 million in gross proceeds, according to a press release.

The offering is priced at-the-market under Nasdaq rules and is being made to certain institutional investors through a securities purchase agreement. Ladenburg Thalmann & Co. Inc. is serving as exclusive placement agent for the transaction.

Concurrent with the direct offering, Nuwellis will issue warrants in a private placement to purchase up to 1,310,890 additional shares of common stock at an exercise price of $2.59 per share. The warrants are exercisable immediately upon issuance and carry a five-year term from the date the underlying shares are registered.

The company also received approximately $3.1 million in gross proceeds from the exercise of previously issued warrants connected to a June 2026 public offering.

The closing of the registered direct offering and concurrent private placement is expected on or about August 3, 2026, subject to customary closing conditions.

The shares are being offered under a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on July 9, 2024. The warrants and underlying shares have not been registered under the Securities Act of 1933.