Nuwellis, Inc. (NASDAQ:NUWE) ("Nuwellis" or the "Company"), a medical technology company focused on transforming the lives of people with fluid overload, today announced the pricing of a public offering of 11,250,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to an aggregate of 16,875,000 shares of its common stock at a combined public offering price $0.24 per share (or pre-funded warrant in lieu thereof) and associated warrant. Each share of common stock (or prefunded warrant in lieu thereof) is being sold together with one warrant to purchase one and a half shares of common stock. The warrants will have an exercise price of $0.40 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance.

The offering is expected to close on or about April 30, 2024, subject to the satisfaction of customary closing conditions.

Roth Capital Partners is acting as exclusive placement agent for the offering.

The gross proceeds to Nuwellis from the offering, before deducting the placement agent fees and other offering expenses, are expected to be approximately $2.7 million. Nuwellis intends to use the net proceeds from the offering for working capital and for general corporate purposes, including for continued investments in its commercialization efforts.