LMF Acquisition Opportunities was renamed SeaStar Medical Holding Corporation after the business combination was completed and it will continue to be run by the same management group
SeaStar has completed its business combination with LMF Acquisition Opportunities. (Credit: Arek Socha from Pixabay)
Medical technology company SeaStar Medical has wrapped up its previously announced business combination with LMF Acquisition Opportunities.
The business combination was sponsored by LM Funding America.
After completion, LMF Acquisition Opportunities was renamed SeaStar Medical Holding Corporation. It will continue to be run by the same management group as SeaStar Medical.
On 31 October 2022, SeaStar Medical Holding Corporation common stock and warrants are anticipated to start trading on Nasdaq under the new ticker symbols ICU and ICUCW, respectively.
Both the SeaStar Medical and LMAO boards of directors unanimously agreed to support the deal. The transaction has been authorised by the majority of SeaStar Medical’s shareholders.
The transaction was approved by LMAO stockholders with more than 96% of the votes cast in favour.
SeaStar Medical Holding president and chief executive officer Eric Schlorff said: “We are excited to begin the next phase of our journey as a public company.
“This transaction provides us greater resources to advance our Selective Cytopheretic Device (SCD) for patients suffering from the devastating consequences of hyperinflammation.
“We have submitted our Humanitarian Device Exemption (HDE) application to the US Food and Drug Administration (FDA) for paediatric use, and we plan to launch a pivotal study of the SCD in adults with acute kidney injury (AKI) in the first quarter of 2023.
“As a public company, we will be better positioned to move these programs forward.”
Denver-based SeaStar Medical develops and commercialises extracorporeal therapies that target the effector cells that drive systemic inflammation.
In June this year, the company reported positive results from its pilot SCD 005 clinical trial in Covid-19 patients with multiple organ failures in the ICU.