SeaStar Medical issues new unregistered warrants after $3.3 million cash exercise
ICU•SeaStar Medical agreed to cash exercises of 854,002 outstanding warrants at $3.866 per share, targeting about $3.3 million in gross proceeds. It will issue 1,708,004 new warrants at $3.616 per share and expects the transaction to close on or about Oct. 5, 2026.
1. Warrant transaction
The company agreed to the immediate cash exercise of 854,002 outstanding warrants, which had exercise prices ranging from $6.38 to $7.62 per share. In connection with the exercise, SeaStar Medical will issue 1,708,004 new unregistered warrants at $3.616 per share, with five-year and 18-month terms.
2. Use of proceeds
SeaStar Medical plans to file a resale registration statement within 30 days covering shares issuable upon exercise of the new warrants. It expects to use the proceeds for general corporate purposes, including working capital.
