CHF Solutions Inc. closed its underwritten public offering of series F convertible preferred stock, together with warrants, for gross proceeds of $18.0 million.
The company issued 18,000 series F preferred shares, which are convertible into about 4 million common shares at a conversion price of $4.50 apiece.
In addition, series 1 and series 2 warrants to buy about 8 million common shares at an exercise price of $4.50 apiece were also issued in the offering.
The series 1 warrants will expire one year after issuance and the series 2 warrants expire seven years after issuance.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in the offering.
