Nuwellis Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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Mar 31, 2024 · Filed May 8, 2024
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Legal Proceedings
| ITEM 1. | LEGAL PROCEEDINGS |
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On April 4, 2024, the Company received a written notice from SeaStar Medical Holding Corporation, a Delaware corporation (“SeaStar”) alleging the Company has breached its payment obligations arising under that certain License and Distribution Agreement dated December 27, 2022 entered into by and between the Company and SeaStar. Representatives of the Company and SeaStar are engaged in ongoing discussions to resolve SeaStar’s allegations, which the Company believes will be resolved following the financing contemplated by the Securities Purchase Agreement. Additionally, the Company is within the cure period to remedy such alleged breach.
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