SeaStar Medical Issues Series A & B Preferred Stock

TL;DR

**SeaStar Medical just issued new preferred stock, which could affect common shareholders.**

AI Summary

SeaStar Medical Holding Corp. filed an 8-K on January 11, 2024, reporting that on January 10, 2024, they issued Series A Preferred Stock and Series B Preferred Stock. This matters to investors because the issuance of new preferred stock can dilute the value of existing common stock or introduce new claims on the company's assets and earnings, potentially impacting future share price performance.

Why It Matters

The issuance of preferred stock can impact the company's capital structure and potentially dilute the ownership or claims of existing common stockholders.

Risk Assessment

Risk Level: medium — The issuance of preferred stock introduces new claims on the company's assets and earnings, which can increase financial leverage and potentially dilute common equity holders.

Analyst Insight

Investors should investigate the terms of the newly issued Series A and Series B Preferred Stock to understand their potential impact on common stock dilution, dividend preferences, and liquidation rights before making investment decisions.

Key Players & Entities

• SeaStar Medical Holding Corp. (company) — the registrant filing the 8-K
• January 10, 2024 (date) — date of the earliest event reported
• Series A Preferred Stock (other) — type of stock issued
• Series B Preferred Stock (other) — type of stock issued

FAQ

Key Financial Figures

• $375,000 — n will receive an annual base salary of $375,000 and is eligible for an annual bonus equ
• $15,000,000 — ing transactions with gross proceeds of $15,000,000 or more. If Mr. Green is terminated by

Filing Documents

• a8k.htm (8-K) — 34KB
• exhibit10-1.htm (EX-10.1) — 88KB
• exhibit99-1.htm (EX-99.1) — 12KB
• image00001.jpg (GRAPHIC) — 4KB
• 0000929638-24-000084.txt ( ) — 343KB
• icu-20240110.xsd (EX-101.SCH) — 4KB
• icu-20240110_def.xml (EX-101.DEF) — 18KB
• icu-20240110_lab.xml (EX-101.LAB) — 27KB
• icu-20240110_pre.xml (EX-101.PRE) — 20KB
• a8k_htm.xml (XML) — 6KB

02

Item 5.02 Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 10, 2024, the Board of Directors (the "Board") of SeaStar Medical Holding Corporation (the "Company") appointed David Green, age 61, as the Company's Chief Financial Officer, effective as of January 10, 2024. Prior to joining the Company, Mr. Green served as Chief Financial Officer of BlackSwan Vascular, Inc. and LamaMed Solutions, Inc., related medical device development companies, from May 2021 to January 2024. Mr. Green served as Interim Chief Financial Officer of Prolacta Biosciences, Inc., a private company providing specialized nutrition products to critically ill premature infants, from September 2021 to October 2022. From December 2017 to March 2021, Mr. Green was Chief Financial Officer at Aytu BioSciences, Inc., a Nasdaq listed pharmaceutical and medical device manufacturer and marketer. Mr. Green served as Chief Accounting Officer at Intarcia Therapeutics, Inc., a venture backed biopharmaceutical company engaged in late stage clinical development, from May 2016 to February 2017. Prior to Intarcia Therapeutics, Mr. Green held various CFO and consulting roles for SEC reporting and privately held life science companies. Mr. Green was a founding member of Ernst & Young's Palo Alto Center for Strategic Transactions, where he advised the firm's clients on using strategic transactions to accelerate growth. Mr. Green earned a Bachelor of Science from the State University of New York, and a Master of Business Administration from the University of Rochester. Mr. Green is a Certified Public Accountant. Pursuant to the terms of the employment agreement between Mr. Green and the Company, dated as of January 10, 2024 (the "Employment Agreement"), Mr. Green will receive an annual base salary of $375,000 and is eligible for an annual bonus equivalent to 40% of his base salary for his personal performanc

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1*# Employment Agreement, dated January 10, 2024, by and between the Company and David Green 99.1 Press Release, dated January 11, 2024, announcing the appointment of David Green as the Company's Chief Financial Officer 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Indicates management contract or compensatory plan or arrangement. # Certain of the exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request; provided, however, that the Registrant may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act, as amended, for any schedule or exhibit so furnished. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SEASTAR MEDICAL HOLDING CORPORATION Date: January 11, 2024 By: /s/ Eric Schlorff Name: Eric Schlorff Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR