IPO - SeaStar Medical Holding Corp

Form Type: 424B5

Filing Date: 2025-02-03

Corporate Action: Ipo

Type: New

Accession Number: 000121390025009443

Filing Summary: SeaStar Medical Holding Corporation is offering 713,000 shares of its common stock and Pre-Funded Warrants to purchase 2,816,412 shares of common stock to a single institutional investor. The offering price per share is $1.70, and the exercise price for each Pre-Funded Warrant is $1.699. The offering is intended to enhance capital for the company, which has developed a proprietary therapy platform to address hyperinflammation through its Selective Cytopheretic Device (SCD). The company has obtained regulatory approval for its pediatric SCD product 'QUELIMMUNE.' Additionally, the document states that there is an ongoing pivotal clinical trial for adult patients with acute kidney injury. The proceeds from this offering are estimated to be approximately $6 million before expenses, and the total expenses are expected to be around $500,000. The document discloses recent developments including a public reprimand from Nasdaq regarding a prior transaction which was determined to exceed 20% of the company's outstanding shares without sufficient shareholder approval. Furthermore, the summary notes the implications of being a smaller reporting company and the associated reduced disclosure requirements, alongside the plans for proceeds usage, which primarily focuses on development and commercialization activities.

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