HeartBeam, Inc. (BEATW) — Current Report

Key Insights

• HeartBeam, Inc. conducted an underwritten public offering of 12.5 million shares of common stock at $0.80 per share, raising approximately $10 million in gross proceeds.
• The company plans to use the net proceeds from the offering to support commercialization of its FDA-cleared 12-lead synthesized ECG system, advance development of its 12-lead ECG extended-wear patch and heart attack detection initiatives, and enhance its AI capabilities.
• As part of the offering, the company granted the underwriter a 30-day option to purchase up to an additional 1.875 million shares to cover over-allotments, and issued warrants to the underwriter to purchase shares equal to 5% of the total shares sold.