SeaStar Medical Holding Corporation Settles Dispute with Nuwellis, Inc.

SeaStar Medical Holding Corporation (OTCMKTS:LMAOU) recently entered into a confidential settlement agreement and release with Nuwellis, Inc., resolving a dispute that arose following a breach of their Distribution Agreement.

The Distribution Agreement, established in December 2022, appointed Nuwellis as SeaStar Medical’s exclusive distributor for a pediatric SCD product in the United States. However, in May 2024, SeaStar Medical notified Nuwellis of a breach in the agreement and subsequently terminated it, effective August 18, 2024.

Although Nuwellis disputed the termination, a settlement was reached on October 20, 2024. According to the terms of the agreement, SeaStar Medical agreed to pay Nuwellis a total of $900,000 in three installments through December 31, 2024. This settlement brings a resolution to the legal dispute between the two companies.

SeaStar Medical Holding Corporation, an emerging growth company, operates in the healthcare industry and holds securities registered on The Nasdaq Stock Market LLC. Following the settlement with Nuwellis, the company continues to focus on its operations and strategic objectives moving forward.

This information was disclosed in a recent Form 8-K filing submitted to the Securities and Exchange Commission on October 20, 2024. For more details on the settlement and other events, interested parties can refer to the official filing on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LMF Acquisition Opportunities’s 8K filing here.

LMF Acquisition Opportunities Company Profile

LMF Acquisition Opportunities, Inc does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Tampa, Florida.