Texas Roadhouse earnings missed by $0.05, revenue topped estimates
Investing.com -- SeaStar Medical (TASE:BLWV) Holding Corporation (NASDAQ:ICU) stock plummeted 59.6% after the commercial-stage healthcare company announced the pricing of a public offering that will dilute existing shareholders.
The offering consists of 6,153,847 shares of common stock (or pre-funded warrants) with accompanying Series A and Series B warrants, all priced at $0.65 per share. This represents a significant discount to the stock’s previous trading price, triggering the sharp selloff.
SeaStar Medical, which focuses on treatments for critically ill patients facing organ failure, expects to raise approximately $4 million in gross proceeds from the offering. The company could potentially receive an additional $4 million if all Series B short-term warrants are exercised, though there is no guarantee this will occur.
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to close around June 23, 2025, subject to customary closing conditions.
The Series A warrants will have an exercise price of $0.65 per share and will expire five years after issuance, while the Series B short-term warrants carry the same exercise price but will expire after 18 months.
According to the company’s statement, proceeds from the offering will be used for general corporate purposes. The significant stock decline reflects investor concerns about share dilution and the discounted offering price.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.