CHF Solutions prices $2.2m offering

CHF Solutions (NSDQ:CHFS) announced today that it priced a registered direct offering of common stock worth approximately $2.2 million.
The Eden Prairie, Minn.-based ultrafiltration therapy developer is offering more than 5.1 million shares of its common stock at a public price of approximately 43¢ per share.
CHF Solutions expects gross proceeds of $2,226,000 prior to the deduction of commissions and offering expenses payable by the company. Meanwhile, the company has a concurrent private placement in which it agreed to issue investors in the registered direct offering unregistered warrants to purchase up to nearly 2.6 million shares of common stock.
The company said in a news release that it intends to use the net proceeds for general corporate purposes, including continued investment in the commercialization and production of its Aquadex SmartFlow system.
Aquadex SmartFlow is designed to remove excess fluid from patients suffering from hypervolemia (fluid overload). It is indicated for temporary (up to eight hours) of ultrafiltration treatment for patients who have failed diuretic therapy and for extended (more than eight hours) in patients who failed diuretic therapy and require hospitalization.

Ladenburg Thalmann is acting as exclusive placement agent in connection with the offering, which CHF Solutions expects to close on or about April 1.

Original Article: (https://www.massdevice.com/chf-solutions-prices-2-2m-offering/)