SeaStar Medical Holding Corporation (Nasdaq: ICU) announced on October 5, 2026, that it has closed an offering involving the exercise of outstanding warrants. The company entered into letter agreements on October 2, 2026, with holders of certain prior warrants to purchase an aggregate of 854,002 shares of common stock. These prior warrants, originally issued in June, July, and August 2025, were exercised for cash at a reduced price of $3.866 per share. The gross proceeds from this exercise were approximately $3.3 million, before deducting placement agent fees and offering expenses.
As part of the transaction, the holders received new unregistered Series A and Series B common stock purchase warrants. These new warrants are exercisable for a total of 1,708,004 shares of common stock at an exercise price of $3.616 per share. The Series A Warrants are exercisable for five years from the effective date of a future Resale Registration Statement, while the Series B Warrants are exercisable for 18 months from that date. The company agreed to file a registration statement covering the resale of the shares underlying these new warrants within 30 days of the October 2 agreements, with a goal of SEC effectiveness within 60 days.
H.C. Wainwright & Co., LLC served as the exclusive placement agent for the transaction. The company agreed to pay Wainwright a cash fee equal to 7.0% of the gross proceeds, plus a 1.0% management fee, along with specific expenses totaling approximately $90,950. In addition, the company issued placement agent warrants to Wainwright or its designees, exercisable for up to 59,780 shares of common stock at a price of $4.8325 per share. The company intends to use the net proceeds from this offering for general corporate purposes, including additions to working capital and capital expenditures.
