Nuwellis Shares Drop Again After Warrant Filing
Nuwellis Inc. shares fell 13.61% to $0.9071 Tuesday and dropped further pre-market Wednesday after filing to offer up to 4.85 million shares or pre-funded warrants, each with Series C and D warrants attached. The equity offering could raise about $4.4 million and sharply increase the share count, raising dilution concerns. First-quarter net sales rose 26% to $2.4 million; net loss was $4.3 million.