Nuwellis Announces Pricing Of $2.7M Public Offering Of 11.25M Shares Of Common Stock And Warrants To Purchase Up To An Aggregate Of 16.875M Shares Of Its Stock At A Combined Public Offering Price $0.24/Share
Portfolio Pulse from Benzinga Newsdesk
Nuwellis, Inc. (NASDAQ:NUWE) announced a public offering of 11.25 million shares and warrants to purchase up to 16.875 million shares at $0.24 per share, aiming to raise $2.7 million. The warrants, exercisable at $0.40 per share, will expire five years post-issuance. The offering, managed by Roth Capital Partners, is set to close by April 30, 2024, with proceeds intended for working capital and general corporate purposes, including commercialization efforts.
April 26, 2024 | 1:19 pm
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Nuwellis announces a public offering to raise $2.7 million through shares and warrants, with proceeds aimed at supporting working capital and commercialization efforts.
The announcement of a public offering by Nuwellis is a significant financial move aimed at raising capital. While such offerings can dilute existing shares, the intended use of proceeds for working capital and commercialization efforts could support the company's growth in the long term. The impact on the stock price in the short term is uncertain, as market reaction can vary based on investor perception of the offering's value and its implications for the company's future.
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