CHF Solutions Inc. plans to offer convertible preferred stock and warrants in an underwritten public offering to raise about $18 million.
The medical device company plans to offer 18,000 shares of Series F preferred stock convertible into about 4 million shares of the common stock at $4.50 apiece.
It will also offer warrants — series 1 and 2 — to buy about 8 million shares at $4.50 apiece.
The preferred stock and warrants will be issued separately.
The series 1 warrants will expire one year after the issue date and the series 2 seven years later.
The offering is expected to close Nov. 27.
Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager for the offering.
