MINNEAPOLIS, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company focused on fluid management, today announced that stockholders approved all proposals presented at the company's Special Meeting of Stockholders, held virtually earlier today.
Each proposal was designed to enhance the company's financial flexibility and support ongoing strategic growth. The approved items include:
Warrant Exercise Proposal - Stockholders approved the issuance of shares of common stock pursuant to the exercise of warrants sold in the company's June 10, 2025 financing, in accordance with Nasdaq Listing Rule 5635(d). This approval enables Nuwellis to fully access the committed capital from the offering.
Authorized Shares Increase Proposal - Stockholders approved an amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of common stock from 100 million to 200 million.
Reverse Split Proposal - Stockholders approved an amendment to the Company's Certificate of Incorporation authorizing a reverse stock split at a ratio between 1-for-5 and 1-for-70, to be enacted at the discretion of the Board of Directors, if necessary, to maintain Nasdaq listing compliance.
"We appreciate the strong support from our stockholders," said John Erb, Chief Executive Officer of Nuwellis. "These approvals mark important progress toward strengthening our capital position and ensuring we have the flexibility to execute our long-term strategy."
Final voting results will be included in a Form 8-K to be filed with the U.S. Securities and Exchange Commission.
For more information, visit www.nuwellis.com.
About Nuwellis Nuwellis, Inc. (Nasdaq: NUWE) is a medical device company dedicated to transforming the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headquartered in Minneapolis, with a wholly owned subsidiary in Ireland. For more information visit www.nuwellis.com or visit us on LinkedIn or X, formerly known as Twitter.
About the Aquadex SmartFlow® System The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.
Forward-Looking Statements Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2025 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risks associated with our ability to execute on our commercialization strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
For further information, please contact:
Investor Relations:
Robert Scott
Chief Financial Officer
ir@nuwellis.com
Media Contact:
Leah McMullen
Director of Communications
Leah.mcmullen@nuwellis.com
