BUZZ-SeaStar Medical falls after pricing public offering

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