BEAT - Digital healthcare company HeartBeam prices $16.5M IPO trading starts today

HeartBeam (NASDAQ:BEAT) priced its 2.75M units IPO; each unit consists of one share and one warrant to purchase a share at offering price of $6 wherein warrants are exercisable for five years after issuance date. Underwriters granted 30-day option to purchase an additional 412.5K shares and warrants. The shares and warrants are expected to trade on Nasdaq starting today under the symbols, "BEAT" and "BEATW" respectively. Offer is expected to close on Nov.15. Gross proceeds are expected to be $16.5M; net proceeds to be used for funding its initial product, the ER product, including the achievement of FDA 510(k) clearance and commercial launch; engineering and regulatory work for its telehealth product, to achieve FDA 510(k) clearance of the telehealth product and to commercialize the product; and general corporate purposes. HeartBeam is a development stage digital healthcare company with proprietary ECG telemedicine technology that will redefine the way high risk cardiovascular patients

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Digital healthcare company, HeartBeam prices $16.5M IPO, trading starts today