CHF Solutions closes $5m round

CHF Solutions (NSDQ:CHFS) today closed a $5.4 million offering with a fully-exercised underwriter’s over-allotment option.

The Eden Prairie, Minn.-based company floated 2.2 million shares of its common stock at $2.12 per share and an additional 332,239 shares at the public offering price as part of a 45-day underwriter’s option to purchase additional shares.

Ladenburg Thalmann & Co acted as sole book-running manager for the offering, with Dawson James Securities acting as co-manager, according to a press release.

CHF Solutions said it plans to use net proceeds for general corporate purposes, including the expansion of its field sales force and commercial organization.

In May, CHF Solutions saw shares fall after the heart-focused medical device maker missed expectations on Wall Street with its first quarter earnings results.

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