SeaStar Medical is getting NASDAQ listing via a merger with LMAO | Invezz
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Apr 23, 2022
SeaStar’s CEO claimed that they were delighted to welcome their new partners LMAO
The BoD of both companies has unanimously approved the merger agreement
SeaStar Medical Inc, a medical tech corporation focusing on the development of extracorporeal therapy treatments to reduce the symptoms of vital organ inflammation, is merging with LMF Acquisition Opportunities Inc (NASDAQ: LMAO), a publicly trading special purpose acquisition business, to get a NASDAQ trading listing.
The merger agreement is expected to give SeaStar access to the capital market. The company will use this deal to further the advancement and development of its leading medical programs for AKI (acute kidney injury) in adult and pediatric patients.
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LMAO’s Chairman and Chief Executive Officer, Bruce Rodgers, said:
We are very excited to support SeaStar Medical as it brings to market novel solutions for critical patients. We belive this transaction will provide an effective entry point and valuation for LMAO’s investors with the potential for significant upside as SeaStar Medical executes its business plan.
SeaStar Medical’s Chief Executive Officer and President, Eric Schlorff, said:
Patients battling inflammation today have limited options, and our platform provides a therapy that stops hyper-inflammation and helps the body heal. This is a tremendous opportunity to transform patient treatment.
SeaStar’s CEO claimed that they were delighted to welcome their new partners LMAO and are looking forward to the company’s evolution as it seeks to become a leading publicly listed corporation that offers inflammation options in outgoing care and critical care setups.
Details of the agreement
The BoD of both companies have unanimously approved the merger agreement, and the deal is now subject to LMAO shareholder approval and the relevant customary closing conditions. SeaStar holders of the majority voting power have already approved the deal.
SeaStar’s sole financial advisor in this deal is Maxim Group LLC. On the other hand, LMAO’s sole valuation and financial advisor in the deal is the well-known Skyway Capital Markets LLC.
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