Lucosky Brookman Guides HeartBeam in Completed $10 Million Public Offering
HeartBeam, Inc. (NASDAQ: BEAT), a pioneering medical technology company revolutionizing cardiac care, has closed its $10 million public offering, marking a significant milestone in its commercialization journey. The transaction, which included 5,882,353 shares of common stock priced at $1.70 per share, strengthens the company's position following its recent FDA clearance for its comprehensive arrhythmia assessment system.
Lucosky Brookman LLP served as legal counsel to HeartBeam in this strategic financing, which bolsters the company's ability to advance its groundbreaking cardiac monitoring technology. The offering included a 45-day option for the underwriter to purchase up to an additional 882,353 shares to cover over-allotments.
The successfully completed capital raise will fuel several critical initiatives:
- Commercial-readiness activities
- R&D advancement
- Clinical and regulatory projects
- Working capital expansion
This financing follows HeartBeam's recent submission of a 510(k) application to the FDA for its innovative 12-lead ECG synthesis software, demonstrating the company's rapid progress in bringing its transformative cardiac care solutions to market. The technology represents a significant advancement in portable cardiac monitoring, enabling cable-free ECG synthesis from three distinct directions.
The successful closing of this transaction underscores the market's confidence in HeartBeam's innovative approach to transforming cardiac care through personalized diagnostic solutions.