CHF Solutions prices $11m offering

CHF Solutions (NSDQ:CHFS) today priced a stock-and-warrants offering worth nearly $11 million.

The Eden Prairie, Minn.-based fluid management device maker said the $5.25-per-unit offering is worth a total of $10.8 million, divided into two issues. The first consists of 147,000 Class A units of a stock share and a pair of warrants at that price, one at a five-year term and another set to expire either in 18 months or the 30th trading day after the company announced a hoped-for FDA clearance of a pediatric indication for its Aquadex FlexFlow device.

The second tranche is for 1.9 million Class B units, each consisting of a Series G convertible share plus the pair of 5-year and FDA-conditional warrants.

, a warrant to purchase one share of common stock with an exercise price of $5.25 per share and a Series 2 warrant to purchase one share of common stock with an exercise price of $5.25 per share. There’s also a 45-day underwriters over-allotment that could add another $1.6 million if fully exercised.

CHF Solutions said it expects the flotation to close March 12. Ladenburg Thalmann (NYSE:LTS) is the sole book-runner for the offering, CHF Solutions said.

Formerly know as Sunshine Heart, CHF rebranded back in May 2017.

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