SeaStar Medical Holding Corporation reported a significant development in its business operations. The company had previously entered into a license and distribution agreement with Nuwellis, Inc. in December 2022, granting Nuwellis exclusive rights to distribute SeaStar Medical's pediatric SCD product in the United States. However, in May 2024, SeaStar Medical notified Nuwellis of a breach in the Distribution Agreement, leading to its termination set for August 18, 2024. Nuwellis contested the termination's validity, resulting in a confidential settlement on October 20, 2024. Under the settlement, SeaStar Medical agreed to pay Nuwellis $900,000 in three installments by the end of December 2024. This event was disclosed in a Form 8-K filing with the SEC, as confirmed by SeaStar Medical's CEO, Eric Schlorff, on October 22, 2024.

SeaStar Medical Holding Corporation reported a significant development in its business operations. The company had previously entered into a license and distribution agreement with Nuwellis, Inc. in December 2022, granting Nuwellis exclusive rights to distribute SeaStar Medical's pediatric SCD product in the United States. However, in May 2024, SeaStar Medical notified Nuwellis of a breach in the Distribution Agreement, leading to its termination set for August 18, 2024. Nuwellis contested the termination's validity, resulting in a confidential settlement on October 20, 2024. Under the settlement, SeaStar Medical agreed to pay Nuwellis $900,000 in three installments by the end of December 2024. This event was disclosed in a Form 8-K filing with the SEC, as confirmed by SeaStar Medical's CEO, Eric Schlorff, on October 22, 2024.