SeaStar Medical Holding Corp

Item 1. Legal Proceedings.

Shareholder Claims

On July 5, 2024, Forrest A K Wells, a purported stockholder of ours, filed a putative class action complaint in the United States District Court for the District of Colorado, captioned Wells v. SeaStar Medical Holding Corporation, et al., Case No. 1:24-cv-0187 (the “Class Action”). The Class Action alleges that the Company, our Chief Executive Officer, and former Chief Financial Officer made or caused to be made material misstatements or omissions regarding: (a) the projected timing for obtaining FDA approval of our SCD; and (b) our recognition of certain financial instruments, allegedly culminating in our restatement of our consolidated financial statements, disclosed in a Form 8-K and filed on March 27, 2024. The Class Action asserts claims pursuant to the Securities Exchange Act of 1934, including Section 10(b), Rule 10b-5 promulgated thereunder, and Section 20(a). The Class Action seeks to recover, among other remedies, compensatory damages. On March 4, 2025, the Plaintiff filed an amended complaint. On May 5, 2025, the Defendants filed a motion to dismiss the amended complaint. The motion to dismiss is fully briefed and pending before the court.

On December 13, 2024, Jose Lazo, a purported stockholder of ours, filed a putative stockholder derivative action in the United States District Court for the District of Colorado, captioned Lazo v. Schlorff, et. al., Case No. 1:24-cv-3444 (the “Derivative Action”). The factual allegations of the Derivative Action are substantially similar to those of the Class Action. The Derivative Action complaint asserts claims against our Chief Executive Officer, former Chief Financial Officer, and certain members and former members of our Board of Directors for breach of fiduciary duty and claims pursuant to the Securities Exchange Act of 1934, including Section 14(a), Section 10(b), Rule 10b-5 promulgated thereunder, and Section 21D. Among other remedies, the Derivative Action seeks to recover damages and restitution on behalf of us and certain injunctive relief concerning our corporate governance and internal controls. On January 30, 2025, upon joint motion of the parties, the Court stayed the Derivative Action pending the Court’s resolution of the motion to dismiss filed in the Class Action. Additional stockholders may file substantially similar putative derivative complaints in the future. We will not make separate disclosure of any such complaints unless they are materially different than the Derivative Action.