Lucosky Brookman Client HeartBeam Inc. Closes $25 Million Financing
Lucosky Brookman is proud to have supported its client, HeartBeam Inc., a cardiac technology company, in successfully closing a secondary offering of 16,666,666 shares of common stock. This $25 million financing will enable HeartBeam to fund key clinical and regulatory milestones for its innovative 3D-vector electrocardiogram (VECG) platform, HeartBeam AIMIGo™, and prepare for its commercial launch in 2024.
Throughout the offering process, Lucosky Brookman provided expert corporate and securities counsel to HeartBeam, ensuring the smooth completion of the transaction. With net proceeds of $23.2 million after deducting placement agent discounts, commissions, and offering expenses, HeartBeam is well-positioned to execute its strategic goals. These include obtaining FDA 510(k) clearances, conducting clinical trials, defining initial market segments, identifying potential business partners, aggressively developing intellectual property, and adding Key Opinion Leaders (KOLs) to its Medical Advisory Board.
HeartBeam's CEO, Branislav Vajdic, Ph.D., expressed gratitude for the additional funding, emphasizing its significance in achieving vital milestones and extending the company's cash runway into late 2024. HeartBeam is also excited to partner with Public Ventures LLC, the placement agent for the offering, to help the company grow and realize its full potential.
Lucosky Brookman is honored to have played a vital role in assisting HeartBeam throughout this financing process and looks forward to supporting the company's continued success as it works to revolutionize cardiac care.