Skyway Capital Markets advises PSPC on $85M medtech merger

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TAMPA, Florida–(BUSINESS WIRE)–Skyway Capital Markets, LLC (“Skyway”) is pleased to announce the merger of SeaStar Medical, Inc. (“SeaStar Medical”), a medical technology company developing extracorporeal therapies to reduce the consequences of excessive inflammation on vital organs, and LMF Acquisition Opportunities, Inc. (Nasdaq: LMAO) (“LMAO”), a publicly traded special purpose acquisition company. Skyway Capital Markets LLC served as sole financial and valuation advisor to LMAO in connection with the proposed business combination.

The transaction is expected to provide SeaStar Medical with access to capital markets and thereby position the company to accelerate the development and advancement of its leading acute kidney injury (AKI) programs in pediatric and adult patients, as well as to advance other SeaStar Medical programs in acute and chronic indications.

SeaStar Medical’s Selective Cytopheretic Device (“SCD”) is a patented, extracorporeal, cell-directed immunomodulator that selectively targets neutrophils and activated monocytes to treat hyperinflammation. Neutrophils and monocytes are the cellular mediators that cause systemic inflammation which, when it spreads uncontrollably through the body, can lead to organ damage, organ failure, or death. SCD technology targets cellular motors of inflammation to restore balance in the body and potentially reverse damage. SeaStar Medical intends to submit the SCD for FDA approval under the compassionate device exemption to begin commercialization for the treatment of pediatric AKI and to advance the SCD into a pivotal trial for treatment of AKI in adults.

LMAO CEO Bruce Rodgers said, “We have been consulting with the Skyway team informally throughout our search for a SPAC target. Skyway understands private, public and SPAC M&A transactions and is able to explain their nuanced differences to target ownership. The Seastar opportunity was presented on a tight deadline. Skyway’s healthcare and medical device industry depth allowed us to evaluate this transaction in the time frame required to reach a definitive agreement. . We are excited about what the future holds for SeaStar Medical with the financial resources of LMAO behind them.

Russ Hunt, CEO of Skyway Capital Markets, said: “With over 600 special purpose acquisition firms racing against time to find and close a deal before their vehicles expire, in an environment where very few truly succeed, we are incredibly proud of our team at Skyway for crossing the finish line with this transaction. We are all the more proud of the quality of the target put on the table and the future growth potential that the LMAO investors will now have access. Healthcare and technology remain attractive sectors and we remain very active in both.”

Skyway Capital Markets President Marty Traber added, “Our family businesses and founding clients regularly ask us about SPACs as options for growth capital and/or partial liquidity events. We tell our clients that SPACs can be a great option for the right situation, but they’re not easy deals to close. Hiring the right M&A advisor is always important, but even more so when it comes to successfully executing a SPAC transaction.

Skyway Capital Markets, LLC is a leading M&A advisor to middle-market, family-owned, founder-owned businesses and select public companies.

About Skyway Capital Markets

Skyway Capital Markets is a national, market-leading, award-winning investment bank with a strong presence in the technology and telecommunications sectors. The firm works with middle market companies, both public and private, through tailored financial advisory services, including corporate finance, capital raises, public and private offerings, mergers and acquisitions, certifications of equity, restructurings and recapitalizations. Skyway Capital Markets is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For more information, please visit www.skywaycapitalmarkets.com.

About SeaStar Medical, Inc.

Denver-based SeaStar Medical is a private medical technology company focused on redefining how extracorporeal therapies can reduce the consequences of excessive inflammation on vital organs. SeaStar Medical’s new technologies leverage science and innovation to provide life-saving solutions to critically ill patients. It develops and commercializes extracorporeal therapies that target effector cells responsible for systemic inflammation, causing direct tissue damage and secreting a range of pro-inflammatory cytokines that initiate and propagate imbalanced immune responses. For more information, visit http://seastarmedical.com/.

About LMF Acquisition Opportunities, Inc.

LMF Acquisition Opportunities, Inc. (Nasdaq: LMAO) is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or a similar business combination with one or more companies. LMAO is led by Bruce M. Rodgers, Chief Executive Officer and Chairman of the Board. For more information, visit www.lmfacquisitions.com.


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