Concurrent with the NASDAQ listing, HeartBeam announced the pricing of its underwritten initial public offering of 2,750,000 units, each consisting of (i) one share of common stock and (ii) one warrant to purchase a share of common stock, at a public offering price per unit of $6.00 The warrants have an exercise price of $6.00 per share and are exercisable for a period of five years after the issuance date. All units are being offered by HeartBeam, Inc. In addition, HeartBeam has granted the underwriters a 30-day option to purchase an additional 412,500 shares of its common stock and/or warrants to purchase up to an additional 412,500 of its common stock, at the initial public offering price, less the underwriting discounts and commissions. The gross proceeds to HeartBeam from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $16.5 million.
The Benchmark Company acted as the sole book-running managers for the offering.
The Company, based in Santa Clara, California is a developmental stage digital healthcare company with a proprietary ECG telemedicine technology to bring new capabilities to cardiovascular disease, “Working with Exchange Listing as IPO counsel put us in a winning position,” commented Branislav Vajdic, CEO, HeartBeam. “Their exemplary team put us in contact with a best in class investment banker and legal team. We are thrilled to now be listed on the Nasdaq Capital Markets.”
“When we met the HeartBeam management team, and reviewed their innovative digital healthcare products, we became incredibly enthusiastic about their market potential,” explains Peter Goldstein, Chief Executive Officer of Exchange Listing. “HeartBeam’s medical grade heart attack detection technology is a game changer, allowing patients to determine if they are having a life threatening medical event. In concert with HeartBeam’s management and bankers, the Company now has a listing on Nasdaq Capital Markets.”
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