Nuwellis (NUWE) said Friday that it has agreed to sell 1.3 million shares of common stock at $2.59 per share in a $3.4 million registered direct offering, closing Aug. 3.
The medical technology company also received $3.1 million in gross proceeds from the exercise of older warrants issued during a public sale last month, the company said.
The investors will also get five-year warrants to buy up to 1.3 million shares at an exercise price of $2.59 each in a concurrent private placement, Nuwellis said.
Shares of the company were down 63% in recent Friday premarket activity.
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