Transaction Information
Nuwellis, Inc. (NASDAQ: NUWE), announced 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. The company intends to use the net proceeds from the offering for general corporate purposes, including the continued investment in commercialization efforts.
The public offering is being made pursuant to a "shelf" registration statement on Form S-3, which was filed by the company with the Securities and Exchange Commission (the "SEC") on July 2, 2021, and became effective upon filing. A prospectus supplement relating to the offering has been filed with the SEC.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with the offering.
About Nuwellis, Inc.
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 headquartered in Minneapolis, MN, with a wholly-owned subsidiary in Ireland.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.