Business
Nuwellis, Inc. Announces Closing of $10.0 Million Underwritten Public Offering of Common Stock Including Full Exercise of Over-Allotment Option
EDEN PRAIRIE, Minn., Sept. 17, 2021 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (NASDAQ:NUWE) (the “Company”) announced today the closing of its previously announced
About this update from Nuwellis, Inc.
[{"type":"text","content":"EDEN PRAIRIE, Minn., Sept. 17, 2021 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (NASDAQ:NUWE) (the “Company”) announced today the closing of its previously announced underwritten public offering of 4,005,588 shares of its common stock at a price to the public of $2.50 per share, for gross proceeds of approximately $10.0 million, including the full exercise of the underwriters’ over-allotment option to purchase additional shares of the Company’s common stock, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with the offering. Maxim Group LLC acted as lead manager for the offering. The Company intends to use the net proceeds for the offering for general corporate purposes, including the continued investment in commercialization efforts. The offering was made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-256797) that was filed by the Company with the Securities and Exchange Commission (“SEC”) and was declared effective on July 2, 2021. The Company has filed a final prospectus supplement with the SEC relating to such shares of common stock. Copies of the final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering may be obtained at the SEC’s website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., 640 Fifth Avenue, 4th Floor, New York, NY 10019, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement. About Nuwellis Nuwellis, Inc. (Nasdaq: NUWE) is a medical device company dedicated to changing the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on developing, manufacturing, and commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headqua...