SeaStar Medical is a clinical technology firm establishing proprietary solutions to cut down the effects of hyperinflammation on crucial organs
Transaction to offer SeaStar with entry to the funds markets, enabling it to speed up the development and improvement of its proprietary and ground breaking immunomodulatory system for pediatric and grownup acute kidney personal injury (AKI)
SeaStar Medical plans to progress other courses for acute and chronic inflammations, such as situations linked with Covid-19
Dow Pension Ideas, as existing buyers of SeaStar Health care, dedicate to further more take part in the transaction by way of a PIPE expense
The proposed business combination is anticipated to be accomplished in the third quarter of 2022
DENVER and TAMPA, Fla., April 22, 2022 (World NEWSWIRE) — SeaStar Healthcare, Inc. (“SeaStar Medical”), a professional medical technological know-how corporation establishing extracorporeal therapies to decrease the penalties of abnormal inflammation on critical organs, and LMF Acquisition Alternatives, Inc. (Nasdaq: LMAO) (“LMAO”), a publicly traded particular reason acquisition organization, today declared they have entered into a merger settlement. The transaction is expected to supply SeaStar Health-related with obtain to the money marketplaces and thereby situation the organization to accelerate the improvement and improvement of its guide applications for acute kidney personal injury (AKI) in both equally pediatric and adult patients, as properly as progress other SeaStar Medical packages in acute and chronic indications.
SeaStar Medical’s Selective Cytopheretic Gadget (“SCD”) is a patented, cell-directed, extracorporeal immunomodulator that selectively targets activated neutrophils and monocytes to tackle hyperinflammation. Neutrophils and monocytes are the cellular mediators that drive systemic inflammation, which when spreading uncontrollably by means of the human body can guide to organ hurt, organ failure or dying. The SCD know-how targets the mobile motorists of irritation to restore balance in the entire body and probably reverse the destruction. SeaStar Professional medical intends to post SCD for acceptance with the Fda under the Humanitarian Machine Exemption to start commercialization for the treatment of pediatric AKI and advance SCD into a pivotal demo for cure of AKI in grownups.
“We are extremely fired up to aid SeaStar Health care as it brings to sector novel answers for significant individuals,” claimed Bruce M. Rodgers, Chief Executive Officer and Chairman of the Board of LMAO. “We imagine this transaction will offer an appealing entry place and valuation for LMAO’s traders with the potential for important upside as SeaStar Health-related executes its business prepare.”
“Patients battling inflammation now have limited selections and our system provides a remedy that not only stops hyperinflammation, but helps the system mend. This is a tremendous option to remodel affected individual cure,” mentioned Eric Schlorff, President and Main Govt Business office of SeaStar Health care. “We are psyched to welcome LMAO as associates and glimpse forward to our evolution to turn out to be a environment-class general public business that offers irritation options in equally essential care and ongoing care configurations.”
The put together enterprise will be recognised as SeaStar Health care Keeping Corporation and will function underneath the very same management workforce as SeaStar Professional medical, which is led by Mr. Schlorff. The transaction contemplates an business price of somewhere around $85 million for SeaStar Healthcare. As part of the transaction, all SeaStar Health-related shares owned by SeaStar Medical’s existing fairness holders will be converted into Course A Popular Inventory of SeaStar Health-related Holding Corporation. The Dow Chemical Firm Pension Ideas, as existing buyers of SeaStar Clinical, are dedicated to even further take part in the transaction by way of a PIPE investment decision that is predicted to close at the time of the completion of the business enterprise blend.
The transaction has been unanimously authorized by both of those Boards of Administrators of SeaStar Clinical and LMAO and is matter to approval by stockholders of LMAO and other customary closing circumstances. The holders of a the vast majority of the SeaStar Health care voting ability have authorised the merger. The proposed small business mix is envisioned to be accomplished in the 3rd quarter of 2022.
Maxim Group LLC served as sole financial advisor to SeaStar Healthcare in relationship with the proposed organization mixture. Skyway Cash Markets LLC served as sole economic and valuation advisor to LMAO in relationship with the proposed organization blend.
About SeaStar Professional medical, Inc.
Denver-centered SeaStar Healthcare is a privately-held health-related technology company that is concentrating on redefining how extracorporeal therapies could decrease the effects of excessive swelling on crucial organs. SeaStar Medical’s novel systems count on science and innovation to offer daily life-preserving options to critically-unwell people. It is producing and commercializing extracorporeal therapies that focus on the effector cells that drive systemic inflammation, producing direct tissue injury and secreting a array of pro-inflammatory cytokines that initiate and propagate imbalanced immune responses. For additional facts stop by http://seastarmedical.com/or pay a visit to us on LinkedIn or Twitter.
About LMF Acquisition Opportunities, Inc.
LMF Acquisition Chances, Inc. (Nasdaq: LMAO) is a particular intent acquisition business shaped for the reason of effecting a merger, cash stock trade, asset acquisition, inventory order, reorganization or comparable business enterprise mix with one particular or much more companies.. LMAO is led by Bruce M. Rodgers, Chief Govt Officer and Chairman of the Board. For a lot more info, visit www.lmfacquisitions.com.
Trader Relations Speak to:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
E mail: [email protected]
This push launch includes sure forward-on the lookout statements in just the this means of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1955. These ahead-wanting statements include things like, with no limitation, LMAO’s and SeaStar Medical’s anticipations with respect to the proposed small business combination between LMAO and SeaStar Health care, like statements about the rewards of the transaction, the expected timing of the transaction, the implied valuation of SeaStar Medical, the items provided by SeaStar Clinical and the markets in which it operates, and SeaStar Medical’s projected long run outcomes. Words and phrases these as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will carry on,” “will probably consequence,” and similar expressions are supposed to recognize these ahead-wanting statements. Forward-on the lookout statements are predictions, projections and other statements about long term gatherings that are dependent on present anticipations and assumptions and, as a end result, are topic to considerable hazards and uncertainties that could bring about the actual results to differ materially from the envisioned outcomes. Most of these factors are outdoors LMAO’s and SeaStar Medical’s handle and are challenging to predict. Variables that may trigger real long run occasions to differ materially from the predicted benefits, incorporate, but are not constrained to: (i) the hazard that the transaction may possibly not be accomplished in a well timed way or at all, which may adversely have an affect on the price tag of LMAO’s securities, (ii) the possibility that the transaction may not be finished by LMAO’s enterprise mix deadline, even if extended by its sponsor, (iii) the failure to fulfill the situations to the consummation of the transaction, which include the adoption of the agreement and plan of merger (“Merger Agreement”) by the stockholders of LMAO and the pleasure of the minimum amount have confidence in account amount of money subsequent redemptions by LMAO’s public stockholders, (iv) the lack of a 3rd party valuation in pinpointing regardless of whether or not to pursue the proposed enterprise combination, (v) the occurrence of any party, alter or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the receipt of an unsolicited give from one more party for an alternate transaction that could interfere with the organization combination, (vii) the result of the announcement or pendency of the transaction on SeaStar Medical’s company relationships, overall performance, and business enterprise generally, (viii) the incapacity to realize the predicted rewards of the enterprise combination, which may be afflicted by, amid other things, levels of competition and the capacity of the publish-mixture corporation to grow and regulate development profitability and retain its crucial personnel, (ix) charges related to the enterprise blend, (x) the result of any authorized proceedings that may well be instituted in opposition to SeaStar Healthcare or LMAO following the announcement of the proposed organization mixture, (xi) the capacity to retain the listing of LMAO’s securities on the Nasdaq, (xii) the means to implement business enterprise ideas, forecasts, and other anticipations after the completion of the proposed organization blend, and determine and comprehend additional chances, (xiii) the danger of downturns and the possibility of swift adjust in the very aggressive sector in which SeaStar Medical operates, (xiv) the chance that SeaStar Health-related and its recent and long term collaborators are unable to properly develop and commercialize SeaStar Medical’s items or solutions, or practical experience substantial delays in undertaking so, including failure to realize approval of its products and solutions by applicable federal and point out regulators, (xv) the danger that SeaStar Medical could never realize or maintain profitability (xvi) the hazard that SeaStar Professional medical may well want to raise more money to execute its business approach, which a lot of not be readily available on acceptable terms or at all (xvii) the possibility that third-parties suppliers and producers are not ready to entirely and well timed meet up with their obligations, (xviii) the chance of products legal responsibility or regulatory lawsuits or proceedings relating to SeaStar Medical’s solutions and providers, (xix) the hazard that SeaStar Clinical is not able to protected or guard its intellectual house, (xx) the possibility that the article-combination company’s securities will not be authorized for listing on Nasdaq or if accredited, sustain the listing and (xxi) other hazards and uncertainties indicated from time to time in the proxy assertion / prospectus to be filed relating to the organization combination, which includes people under the “Risk Factors” portion therein and in LMAO’s other filings with the SEC. The foregoing record of aspects is not exhaustive. Forward-searching statements converse only as of the day they are created. Readers are cautioned not to put undue reliance on forward-looking statements, and SeaStar Healthcare and LMAO believe no obligation and do not intend to update or revise these ahead-hunting statements, irrespective of whether as a outcome of new data, upcoming activities, or if not.
Critical Data and In which to Find It
In connection with the transaction, LMAO intends to file a registration assertion on Type S-4 (the “Registration Statement”) with the SEC, which will incorporate a preliminary proxy statement to be dispersed to holders of LMAO’s typical inventory in relationship with LMAO’s solicitation of proxies for the vote by LMAO’s stockholders with respect to the transaction and other matters as described in the Registration Statement, as effectively as the prospectus relating to the give of the securities to be issued to SeaStar Medical’s stockholders in relationship with the transaction. Immediately after the Registration Assertion has been filed and declared efficient, LMAO will mail a definitive proxy assertion, when available, to its stockholders. Traders and safety holders and other interested events are urged to go through the proxy statement/prospectus, any amendments thereto and any other files submitted with the SEC cautiously and in their entirety when they come to be offered since they will include critical information and facts about LMAO, SeaStar Medical and the transaction. Traders and safety holders could receive cost-free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when obtainable) and other documents filed with the U.S. Securities and Exchange Fee (the “SEC”) by LMAO through the internet site taken care of by the SEC at http://www.sec.gov, or by directing a request to: LMF Acquisition Possibilities, Inc., 1200 Platt Avenue, Suite 1000 Tampa, FL 33602.
Contributors in Solicitation
LMAO and SeaStar Health-related and their respective administrators and specific of their respective government officers and other users of administration and workers could be deemed participants in the solicitation of proxies with regard to the transaction. Info about the directors and govt officers of LMAO is established forth in its Yearly Report on Type 10-K for the fiscal yr finished December 31, 2021. Additional data concerning the individuals in the proxy solicitation and a description of their direct and oblique passions, by stability holdings or in any other case, will be involved in the proxy statement/prospectus and other relevant materials to be submitted with the SEC concerning the transaction when they develop into readily available. Stockholders, opportunity buyers and other fascinated persons should study the proxy statement/prospectus meticulously when it becomes accessible before earning any voting or expense conclusions. When accessible, these files can be acquired cost-free of charge from the resources indicated over.
No Provide or Solicitation
This push release shall not constitute an supply to promote or the solicitation of an give to buy any securities, nor shall there be any sale of securities in any jurisdiction in which this sort of present, solicitation or sale would be unlawful prior to registration or qualification underneath the securities rules of any this kind of jurisdiction. No supplying of securities shall be built apart from by signifies of a prospectus conference the needs of Section 10 of the U.S. Securities Act of 1933, as amended.