HeartBeam, a cardiac medtech company, has priced its underwritten public offering of 12.5 million shares of its common stock.
The company is anticipating total gross proceeds of $10 million, before deducting underwriting discounts, commissions and offering expenses, according to an April 15 news release from HeartBeam.
HeartBeam plans to use the funding for the commercialization of its FDA-cleared 12-lead synthesized ECG system, develop other initiatives and enhance AI capabilities.
HeartBeam’s first commercial customer, ClearCardio, HeartBeam’s executive leadership, board members, existing investors and fundamental institutional investors are leading the offering.
The offering is expected to close on or about April 16, the release said.
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