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CHF Solutions, Inc. Announces Pricing of $10.8 Million Underwritten Public Offering
The offering is comprised of (1) 146,607 Class A Units, priced at a public offering price of
The conversion price of the preferred stock issued in the transaction as well as the exercise price of the warrants are fixed and do not contain any variable pricing features or any price based anti-dilutive features. The preferred stock issued in this transaction includes a beneficial ownership blocker but has no dividend rights (except to the extent that dividends are also paid on the common stock) or liquidation preference, and, subject to limited exceptions, has no voting rights. The securities comprising the units are immediately separable and will be issued separately. The closing of the offering is expected to take place on or about
A total of 146,607 shares of common stock, 1,910,536 shares of Series G convertible preferred stock, Series 1 warrants to purchase up to 2,057,143 shares of common stock and Series 2 warrants to purchase up to 2,057,143 shares of common stock will be issued in the offering. In addition, the Company has granted the underwriters a 45-day option to purchase up to 308,571 additional shares of common stock, additional Series 1 warrants to purchase up to 308,571 shares of common stock and/or additional Series 2 warrants to purchase up to 308,571 shares of common stock solely to cover over-allotments, if any, at the public offering price per share and per warrant, less the underwriting discounts and commissions.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-229102), which was declared effective by the
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made solely by means of a prospectus. A final prospectus relating to this offering will be filed by
About CHF Solutions
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about the closing of the offering of securities. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our ability to execute on our business strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the
Claudia Napal DraytonChief Financial Officer CHF Solutions, Inc.952-345-4205 firstname.lastname@example.org -or- Bret ShapiroManaging Partner CORE IR 516-222-2560 email@example.com MEDIA Jules Abraham JQA Partners, Inc.917-885-7378 firstname.lastname@example.org
Source: CHF Solutions, Inc.