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SeaStar Medical (TASE:BLWV) Holding Corp (NASDAQ:ICU) reported Tuesday that shareholders approved all proposals presented at the company’s annual meeting, held virtually on July 3.
According to a press release statement and SEC filing, shareholders elected Eric Schlorff and Kenneth Van Heel as Class III directors. Both will serve until the 2028 annual meeting or until successors are elected and qualified. Schlorff received 2,369,794 votes in favor and 417,751 against, with 183,652 abstentions. Van Heel received 2,674,923 votes in favor and 262,073 against, with 34,201 abstentions. There were 3,364,458 broker non-votes for each nominee.
Shareholders also approved an amendment to the company’s 2022 Omnibus Equity Incentive Plan. The amendment increases the number of authorized shares under the plan from 570,457 to 2,070,457, reflecting a prior 1-for-25 reverse stock split, and removes the plan’s evergreen provision. The proposal received 1,830,403 votes in favor, 1,120,901 against, and 19,893 abstentions, with 3,364,458 broker non-votes.
A third proposal, authorizing the potential future sale and issuance of common stock to Lincoln Park Capital under a purchase agreement that could result in Lincoln Park owning more than 19.99% of outstanding shares, was approved with 2,596,164 votes for, 372,389 against, and 2,644 abstentions. Broker non-votes totaled 3,364,458.
Shareholders ratified the appointment of WithumSmith+Brown, PC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal received 6,168,023 votes in favor, 75,863 against, and 91,769 abstentions.
A proposal to adjourn or postpone the annual meeting, if necessary, was also approved with 5,240,780 votes for, 927,527 against, and 167,348 abstentions.
All information is based on a press release statement and the company’s 8-K SEC filing. SeaStar Medical’s common stock and warrants trade on the Nasdaq Stock Market under the symbols ICU and ICUCW, respectively.
In other recent news, SeaStar Medical Holding Corporation has regained compliance with Nasdaq’s minimum stockholders’ equity requirement of $2.5 million. This development follows a series of financial transactions, including a $4 million public offering and an agreement with Lincoln Park Capital for potential future stock purchases. The company has also seen increased adoption of QUELIMMUNE, an FDA-approved therapy for pediatric patients with acute kidney injury and sepsis. SeaStar Medical is conducting a pivotal trial of its Selective Cytopheretic Device (SCD) therapy in adults with acute kidney injury, a condition affecting over 200,000 adults annually in the United States. The SCD therapy has received Breakthrough Device Designation from the FDA for multiple therapeutic indications. In addition, the U.S. Department of Defense has awarded a $2 million grant to the AREVA Research Institute to study SeaStar Medical’s SCD therapy for severe burns and related injuries. This grant highlights the potential of SCD therapy in treating hyperinflammation in critically wounded service members. SeaStar Medical intends to use the proceeds from its public offering for general corporate purposes.
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