HeartBeam Announces Pricing of $10.0 Million Underwritten Public Offering of Common Stock
HeartBeam (NASDAQ: BEAT) has announced pricing for its underwritten public offering of 5,882,353 shares of common stock at $1.70 per share, expecting to raise $10.0 million in gross proceeds. The offering is anticipated to close around February 14, 2025.
The company has granted underwriters a 45-day option to purchase up to 882,353 additional shares to cover over-allotments. MDB Capital is serving as the underwriter, with Paulson Investment Company participating as a selected dealer.
The proceeds will support HeartBeam's strategic initiatives, including commercial-readiness activities, R&D investments, clinical and regulatory projects, working capital, and general corporate purposes. This funding follows the recent FDA clearance of HeartBeam's system for comprehensive arrhythmia assessment.
HeartBeam (NASDAQ: BEAT) ha annunciato il prezzo della sua offerta pubblica sottoscritta di 5.882.353 azioni di capitale ordinario a 1,70 $ per azione, prevedendo di raccogliere 10,0 milioni di dollari in proventi lordi. Si prevede che l'offerta si chiuda attorno al 14 febbraio 2025.
L'azienda ha concesso agli underwriting un'opzione di 45 giorni per acquistare fino a 882.353 azioni aggiuntive per coprire le sovraassegnazioni. MDB Capital sta fungendo da sottoscrittore, con Paulson Investment Company che partecipa come dealer selezionato.
I proventi supporteranno le iniziative strategiche di HeartBeam, comprese le attività di preparazione commerciale, gli investimenti in R&S, i progetti clinici e normativi, il capitale circolante e scopi aziendali generali. Questo finanziamento segue la recente approvazione da parte della FDA del sistema di HeartBeam per la valutazione completa delle aritmie.
HeartBeam (NASDAQ: BEAT) ha anunciado el precio de su oferta pública suscrita de 5,882,353 acciones de acciones ordinarias a $1.70 por acción, esperando recaudar $10.0 millones en ingresos brutos. Se anticipa que la oferta se cierre alrededor del 14 de febrero de 2025.
La compañía ha otorgado a los suscriptores una opción de 45 días para comprar hasta 882,353 acciones adicionales para cubrir sobreasignaciones. MDB Capital está actuando como suscriptor, con Paulson Investment Company participando como un distribuidor seleccionado.
Los ingresos apoyarán las iniciativas estratégicas de HeartBeam, incluidas las actividades de preparación comercial, las inversiones en I+D, los proyectos clínicos y regulatorios, el capital de trabajo y propósitos corporativos generales. Este financiamiento sigue a la reciente aprobación de la FDA del sistema de HeartBeam para la evaluación integral de arritmias.
HeartBeam (NASDAQ: BEAT)는 5,882,353주의 보통주를 주당 $1.70에 공모한다고 발표하며, $10.0 백만의 총 수익을 올릴 것으로 예상하고 있습니다. 이 공모는 2025년 2월 14일경에 마감될 것으로 예상됩니다.
회사는 인수인에게 882,353주의 추가 주식을 구매할 수 있는 45일 옵션을 부여했습니다. MDB Capital이 인수인으로 활동하고 있으며, Paulson Investment Company가 선택된 딜러로 참여하고 있습니다.
수익금은 HeartBeam의 전략적 이니셔티브를 지원하는 데 사용되며, 상업 준비 활동, 연구 개발 투자, 임상 및 규제 프로젝트, 운영 자본 및 일반 기업 목적을 포함합니다. 이 자금은 HeartBeam의 종합 부정맥 평가 시스템에 대한 FDA의 최근 승인을 따릅니다.
HeartBeam (NASDAQ: BEAT) a annoncé le prix de son offre publique souscrite de 5 882 353 actions de capital ordinaire à 1,70 $ par action, s'attendant à lever 10,0 millions de dollars de produits bruts. L'offre devrait se clôturer aux alentours du 14 février 2025.
La société a accordé aux souscripteurs une option de 45 jours pour acheter jusqu'à 882 353 actions supplémentaires pour couvrir les surallocations. MDB Capital agit en tant que souscripteur, avec Paulson Investment Company participant en tant que revendeur sélectionné.
Les produits soutiendront les initiatives stratégiques de HeartBeam, y compris les activités de préparation commerciale, les investissements en R&D, les projets cliniques et réglementaires, le fonds de roulement et les objectifs d'entreprise généraux. Ce financement fait suite à l'approbation récente par la FDA du système de HeartBeam pour l'évaluation complète des arythmies.
HeartBeam (NASDAQ: BEAT) hat die Preise für ihr öffentliches Angebot von 5.882.353 Aktien des Stammkapitals zu 1,70 $ pro Aktie bekannt gegeben und erwartet, 10,0 Millionen $ an Bruttoeinnahmen zu erzielen. Das Angebot wird voraussichtlich am 14. Februar 2025 abgeschlossen.
Das Unternehmen hat den Underwritern eine 45-tägige Option gewährt, bis zu 882.353 zusätzliche Aktien zu erwerben, um Überzeichnungen abzudecken. MDB Capital fungiert als Underwriter, während Paulson Investment Company als ausgewählter Händler teilnimmt.
Die Einnahmen werden die strategischen Initiativen von HeartBeam unterstützen, einschließlich der Aktivitäten zur Marktreife, Investitionen in Forschung und Entwicklung, klinische und regulatorische Projekte, Betriebskapital und allgemeine Unternehmenszwecke. Diese Finanzierung folgt der kürzlichen Genehmigung des HeartBeam-Systems zur umfassenden Beurteilung von Arrhythmien durch die FDA.
- Recent FDA clearance for comprehensive arrhythmia assessment system
- $10.0 million capital raise to fund growth initiatives
- Clear allocation of proceeds for commercial readiness and R&D
- Dilution of existing shareholders through new share issuance
- Offering price of $1.70 per share
- Additional potential dilution through 882,353 share over-allotment option
Insights
HeartBeam's
The capital raise's structure includes several notable elements:
- The base offering of 5,882,353 shares with an additional 882,353 shares in over-allotment option provides flexibility to capture additional demand
- The participation of MDB Capital as underwriter adds institutional credibility to the transaction
- The timing aligns with the company's transition from development to commercialization phase
The use of proceeds focuses on three critical areas: commercial readiness, R&D investments, and working capital. This allocation strategy suggests a well-planned approach to market entry, particularly important given the recent FDA clearance. The company's focus on both commercial preparation and continued R&D indicates a balanced strategy to maintain competitive advantages while pursuing market penetration.
From a capital structure perspective, this offering will result in notable dilution for existing shareholders. However, the funding appears necessary to execute the commercialization strategy and maintain momentum following regulatory achievements. The inclusion of an over-allotment option could potentially increase the total raise to
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HeartBeam system was recently cleared by the
U.S. Food and Drug Administration (FDA) for comprehensive arrhythmia assessment - 510(k) application submitted to the FDA for the Company’s groundbreaking 12-lead electrocardiogram (ECG) synthesis software
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Funding is part of the Company’s strategic plan focusing on key growth milestones and preparation for
U.S. commercialization
HeartBeam expects gross proceeds of
MDB Capital is acting as the underwriter for the offering and Paulson Investment Company LLC participated as a selected dealer.
The funding supports the Company’s strategic plan, focusing on key growth milestones and preparation for
Additionally, HeartBeam has granted the underwriter a 45-day option to purchase up to 882,353 additional shares of common stock to cover over-allotments.
The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: MDB Capital, 14135 Midway Road, G-150,
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About HeartBeam, Inc.
HeartBeam, Inc. (NASDAQ: BEAT) is a medical technology company dedicated to transforming the detection and monitoring of critical cardiac conditions. The Company is creating the first ever cable-free synthesized 12-lead ECG capable of capturing the heart’s electrical signals from three distinct directions. This platform technology is designed for portable devices that can be used wherever the patient is to deliver actionable heart intelligence. Physicians will be able to identify cardiac health trends and acute conditions and direct patients to the appropriate care – all outside of a medical facility, thus redefining the future of cardiac health management. The Company holds 13 US and 4 international issued patents related to technology enablement. For additional information, visit HeartBeam.com.
Forward-Looking Statements
All statements in this release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213402000/en/
Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
BEAT@mzgroup.us
www.mzgroup.us
Media Contact:
media@heartbeam.com
Source: HeartBeam, Inc.
FAQ
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