Nuwellis, Inc. (NASDAQ: NUWE), a medical technology company focused on developing solutions for patients with cardiorenal conditions, has completed a public offering that generated approximately $6 million in gross proceeds, the company announced Monday.<\/p>\n\n\n\n
The offering consisted of 1.9 million shares of common stock and pre-funded warrants to purchase approximately 18.1 million additional shares. Investors also received accompanying Series C Warrants and Series D Warrants that could allow the purchase of up to 80 million shares of common stock in the future.<\/p>\n\n\n\n
According to the company, the public offering was priced at $0.30 per share of common stock and accompanying warrants. The pre-funded warrants were offered at a price of $0.2999 each, with an exercise price of $0.0001 per warrant. These pre-funded warrants are immediately exercisable and remain valid until fully exercised.<\/p>\n\n\n\n
Nuwellis said the Series C Warrants and Series D Warrants each carry an exercise price of $0.30 per share. Both warrant series will become exercisable for a five-year period following shareholder approval and the implementation of a reverse stock split, in accordance with Nasdaq requirements.<\/p>\n\n\n\n
The company noted that the Series C Warrants include a one-time exercise price adjustment mechanism tied to a future reverse stock split. Meanwhile, the Series D Warrants provide holders with a zero-cash exercise feature, allowing investors to receive shares without making an additional cash payment under specified conditions.<\/p>\n\n\n\n
The financing is expected to strengthen Nuwellis’ capital position as the company continues to advance technologies aimed at improving outcomes for patients suffering from cardiorenal disorders.<\/p>\n\n\n\n
Investment banking firm Ladenburg Thalmann & Co. Inc. served as the sole book-running manager for the offering.<\/p>\n\n\n\n
Shares of Nuwellis trade on the Nasdaq Capital Market under the ticker symbol “NUWE.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Nuwellis, Inc. (NASDAQ: NUWE), a medical technology company focused on developing solutions for patients with cardiorenal conditions, has completed a public offering that generated approximately $6 million in gross proceeds, the company announced Monday. The offering consisted of 1.9 million shares of common stock and pre-funded warrants to purchase approximately 18.1 million additional shares. Investors […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15","post","type-post","status-publish","format-standard","hentry","category-companies"],"_links":{"self":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":1,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":17,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/15\/revisions\/17"}],"wp:attachment":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}