Business
HeartBeam Announces Pricing of $10.0 Million Underwritten Public Offering of Common Stock
HeartBeam system was recently cleared by the U.S. Food and Drug Administration (FDA) for comprehensive arrhythmia assessment 510(k) application submitted to
About this update from Heartbeam, Inc.
[{"type":"text","content":"\n\nHeartBeam system was recently cleared by the U.S. Food and Drug Administration (FDA) for comprehensive arrhythmia assessment\n\n\n\n510(k) application submitted to the FDA for the Company’s groundbreaking 12-lead electrocardiogram (ECG) synthesis software\n\n\n\nFunding is part of the Company’s strategic plan focusing on key growth milestones and preparation for U.S. commercialization\n\n\n\n SANTA CLARA, Calif.--(BUSINESS WIRE)--\nHeartBeam, Inc. (NASDAQ: BEAT), a medical technology company focused on transforming cardiac care by providing powerful personalized insights, today announced that it has priced its public offering of 5,882,353 shares of HeartBeam’s common stock at $1.70 per share. HeartBeam expects to close the offering, subject to market and other conditions, on or about February 14, 2025.\n\n\nHeartBeam expects gross proceeds of $10.0 million from the offering, before deducting the underwriting discount and commissions and offering expenses.\n\n\nMDB Capital is acting as the underwriter for the offering and Paulson Investment Company LLC participated as a selected dealer.\n\n\nThe funding supports the Company’s strategic plan, focusing on key growth milestones and preparation for U.S. commercialization. The Company intends to use the net proceeds from the offering for commercial-readiness activities; investments into key R&D, clinical, and regulatory projects; working capital; and other general corporate purposes.\n\n\nAdditionally, HeartBeam has granted the underwriter a 45-day option to purchase up to 882,353 additional shares of common stock to cover over-allotments.\n\n\nThe offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: MDB Capital, 14135 Midway Road, G-150, Addison, Texas 75001, by telephone at (945) 262-9010 or by email at [email protected].\n\n\nThis press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any sta...