SeaStar Medical replaces CFO, appoints interim financial officers

SeaStar Medical (TASE:BLWV) Holding Corp (NASDAQ:ICU), a micro-cap healthcare company with a market capitalization of $22.33 million, announced changes to its executive team on Tuesday, according to a statement based on a recent SEC filing. InvestingPro analysis indicates the stock is currently trading near Fair Value, with notable price volatility in recent months.

The company’s Board of Directors terminated the employment of David Green, Chief Financial Officer and Treasurer, effective August 14. The termination was made without “Cause” as defined in Green’s employment agreement. Subject to a mutually agreeable separation and release agreement, SeaStar Medical expects to pay Green approximately $300,000 in base salary over a 12-month period, provide COBRA health coverage for up to 18 months if elected, and accelerate the vesting of his unvested restricted stock units.

On Tuesday, the Board appointed Eric Schlorff, the company’s Chief Executive Officer, as interim Chief Financial Officer, Treasurer, and principal financial officer while a search is conducted for a permanent replacement. In addition, Bradford Towne, previously the company’s Controller, was named principal accounting officer.

Towne, age 48, has served as SeaStar’s Controller since February 2024. His previous roles include Chief Accounting Officer at JAL Equity from August 2022 to May 2023, Corporate Controller at Aytu BioPharma, Inc. from June 2019 to February 2022, and Chief Accounting Officer at Gevo (NASDAQ:GEVO), Inc. from January 2018 through June 2019. Towne also spent ten years in audit at KPMG, LLP. He holds a Bachelor of Science from the University of Arizona and is a Certified Public Accountant.

SeaStar Medical’s common stock and warrants trade on The Nasdaq Stock Market LLC under the symbols ICU and ICUCW, respectively.

All information is based on a press release statement contained in the company’s Form 8-K filed with the Securities and Exchange Commission.

In other recent news, SeaStar Medical Holding Corp reported a 15% sequential increase in revenue for the second quarter of 2025, bringing in $338,000. The company also managed to narrow its net loss compared to the previous year. SeaStar Medical ended the quarter with a strong cash position, which was enhanced by recent fundraising efforts. Despite these positive developments, the company’s stock experienced a decline in the aftermarket session. However, the focus remains on the company’s financial health and growth prospects. Analysts have not provided any recent upgrades or downgrades for SeaStar Medical. These updates highlight the company’s ongoing efforts to improve its financial standing and operational performance. Investors continue to monitor SeaStar Medical’s financial developments closely.

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