SeaStar Medical to Acquire InfuMetrics for $10M

TL;DR

SeaStar Medical is buying InfuMetrics for $10M to boost its product line. Deal expected Q2 2024.

AI Summary

SeaStar Medical Holding Corp. announced on March 6, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of InfuMetrics, Inc. for an aggregate purchase price of $10 million. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. This acquisition aims to expand SeaStar Medical's product portfolio and market reach.

Why It Matters

This acquisition could significantly expand SeaStar Medical's offerings in the medical device market, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.

Key Numbers

• $10.0M — Acquisition Price (Aggregate purchase price for InfuMetrics, Inc.)

Key Players & Entities

• SeaStar Medical Holding Corp. (company) — Acquiring company
• InfuMetrics, Inc. (company) — Target company
• $10 million (dollar_amount) — Aggregate purchase price
• March 6, 2024 (date) — Date of agreement
• second quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock par value $0.0001 per share ICU NASDAQ Warrants, ea
• $11.50 — sable for one share of Common Stock for $11.50 per share ICUCW NASDAQ Indicate b
• $1.00 — ") by evidencing a closing bid price of $1.00 or more per share for a minimum of ten

Filing Documents

• a8k.htm (8-K) — 28KB
• 0000929638-24-000950.txt ( ) — 205KB
• icu-20240306.xsd (EX-101.SCH) — 4KB
• icu-20240306_def.xml (EX-101.DEF) — 18KB
• icu-20240306_lab.xml (EX-101.LAB) — 26KB
• icu-20240306_pre.xml (EX-101.PRE) — 20KB
• a8k_htm.xml (XML) — 6KB

01 Other Events

Item 8.01 Other Events. On March 6, 2024, SeaStar Medical Holding Corporation (the " Company ") received a letter from the Nasdaq Listing Qualifications Department (the " Staff ") of The Nasdaq Stock Market, LLC (" Nasdaq ") granting the Company a temporary exception until June 24, 2024, subject to certain milestones, to regain compliance with the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the " Minimum Bid Price Rule ") by evidencing a closing bid price of $1.00 or more per share for a minimum of ten consecutive trading sessions. As previously reported, the Company received deficiency letters from the Staff of Nasdaq notifying the Company that for 30 consecutive business days preceding June 26, 2023, the closing bid price of the Company's common stock, par value $0.0001 per share (the " Common Stock ") was below $1.00 per share, which did not meet the requirement for continued listing on the Nasdaq Capital Market under the Minimum Bid Price Rule, and has since not regained compliance with the Minimum Bid Price Rule. In response to such deficiency letters, the Company timely submitted a hearing request before the Nasdaq Hearings Panel, and also provided the Nasdaq Hearings Panel with a plan to regain compliance, which plan included conducting a reverse stock split of the Company's Common Stock if necessary, no later than June 7, 2024, to regain compliance with the Minimum Bid Price Rule. The Company intends to monitor the closing bid price of its Common Stock and consider available options if its Common Stock does not trade at a level likely to result in the Company's regaining compliance with the Minimum Bid Price Rule by June 24, 2024. There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule or that the Company will otherwise be or remain in compliance with the other applicable Nasdaq listing standards.

SIGNATURES

SIGNATURES 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 By: /s/ Eric Schlorff Date: March 8, 2024 Name: Eric Schlorff Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR