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Saturday, December 2, 2023

What Happened On Thursday After-Hours To Make Nuwellis (NUWE) Stock Surge?

Following the announcement of the release date for its quarterly results, shares of Nuwellis Inc. (NASDAQ: NUWE) were up 5.04% to trade at $0.2626 in after-hours trading at the time of the most recent check.

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When will NUWE make its quarterly results available?

On Tuesday, November 8, 2022, Nuwellis (NUWE) will reveal its financial results for the third quarter of 2022. At a conference call and webcast hosted by Nuwellis, management will go through the company’s financial results and give a broad business overview at 9:00 AM ET.

New CFO for NUWE

In a second news release issued yesterday, NUWE announced the hiring of Lynn Blake as Chief Financial Officer, beginning October 19, 2022. NUWE has vowed to increase access to life-saving ultrafiltration therapy for adult and pediatric patients suffering from fluid excess.

With major new prospects in heart failure, pediatrics, and critical care, Nuwellis is approaching its next stage of commercial development. Lynn’s extensive knowledge and expertise in the healthcare industry will be crucial as the business moves closer to its goal of expanding access to Aquadex SmartFlow technology. Ms. Blake is particularly equipped for the following stage of NUWE’s journey because of her expertise in the medical device business and her excellent financial leadership abilities.

Ms. Blake provides expertise in senior finance leadership spanning more than two decades. She most recently worked with Growth Operators Advisory Services as a Managing Director. She oversaw the company’s first public offering in 2016 while serving as a chief financial officer at Tactile Systems Technology before.

Work on equality at NUWE

This week, Nuwellis also disclosed the completion of an underwritten public offering of units that generated gross proceeds of around $11.04 million. Prior to subtracting underwriting discounts and commissions, offering expenses owed by Nuwellis, and more shares and warrants, the underwriter’s right to an over-allotment was fully exercised in the offering.

In the offering, NUWE issued how many shares?

Each Class A Unit in the offering included one share of Nuwellis (NUWE) common stock and 1.5 warrants with an exercise price of $0.25 per share. There were 15,235,196 Class A Units in the offering, and the price for each Class A Unit was $0.25. The offering also included the issuance of 23,157,124 Class B Units, each of which had a public offering price of $0.25 and was comprised of 1.5 warrants to purchase one share of common stock with an exercise price of $0.25 and one share of Series I convertible preferred stock, which is convertible into NUWE common stock.

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