CHF Solutions, Inc. Announces Pricing of $18.1 Million Underwritten Public Offering of Common Stock
March 17 2021 - 7:30AM
CHF Solutions, Inc. (NASDAQ:CHFS) (the “Company”) today announced
the pricing of an underwritten public offering of 3,300,710 shares
of its common stock at a price to the public of $5.50 per share,
for gross proceeds of approximately $18.1 million prior to
deducting underwriting discounts and commissions and offering
expenses payable by the Company. The Company has granted the
underwriters an option, exercisable in whole or in part for 45
days, to purchase up to an additional 495,106 shares of its common
stock at the public offering price, less the underwriting discounts
and commissions.
Ladenburg Thalmann & Co. Inc. is acting as
sole book-running manager in connection with the offering. Lake
Street Capital Markets, LLC is acting as lead manager for the
offering.
The Company intends to use the net proceeds for
the offering for general corporate purposes, including the
continued investment in commercialization efforts.
The closing of the offering is expected to take
place on or about March 19, 2021, subject to the satisfaction or
waiver of customary closing conditions.
The offering is made pursuant to a “shelf”
registration statement on Form S-3 (File No. 333-224881) that was
filed by the company with the Securities and Exchange Commission
(“SEC”) and was declared effective on May 23, 2018 and a
registration statement on Form S-3MEF (File No. 333-254373) that
was filed by the Company with the SEC and declared effective on
March 16, 2021. The Company will file a final prospectus
supplement with the SEC relating to such shares of common stock.
Copies of the final prospectus supplement and the accompanying
prospectus relating to and describing the terms of the offering may
be obtained, when available, at the SEC’s website at www.sec.gov or
from Ladenburg Thalmann & Co. Inc., 640 Fifth Avenue, 4th
Floor, New York, NY 10019, or by email at
prospectus@ladenburg.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offer, if at
all, will be made only by means of the prospectus supplement and
accompanying prospectus forming a part of the effective
registration statement.
About CHF Solutions CHF
Solutions, Inc. (Nasdaq:CHFS) is a medical device company dedicated
to changing the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The company is
focused on developing, manufacturing and commercializing the
Aquadex SmartFlow® system for ultrafiltration therapy. CHF
Solutions is headquartered in Minneapolis, Minn., with a
wholly-owned subsidiary in Ireland. The company has been listed on
the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow
System The Aquadex SmartFlow® system delivers clinically
proven therapy using a simple, flexible and smart method of
removing excess fluid from patients suffering from hypervolemia
(fluid overload). The Aquadex SmartFlow® system is indicated for
temporary (up to 8 hours) or extended (longer than 8 hours in
patients who require hospitalization) use in adult and pediatric
patients weighing 20 kg or more whose fluid overload is
unresponsive to medical management, including diuretics. All
treatments must be administered by a health care provider, within
an outpatient or inpatient clinical setting, under physician
prescription, both having received training in extracorporeal
therapies.
Forward-Looking Statements
Certain statements in this release may be considered
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 and the anticipated use of the net proceeds therefrom.
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 commercial strategy, the possibility
that we may be unable to raise sufficient funds necessary for our
anticipated operations, our post-market clinical data collection
activities, 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 SEC. Forward-looking statements
speak only as of the date when made. CHF Solutions does not assume
any obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACTS
INVESTORS:
Claudia Napal Drayton
Chief Financial Officer, CHF Solutions, Inc.
952-345-4205
ir@chf-solutions.com
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
CHF Solutions (NASDAQ:CHFS)
Historical Stock Chart
From Nov 2024 to Dec 2024
CHF Solutions (NASDAQ:CHFS)
Historical Stock Chart
From Dec 2023 to Dec 2024