What's Going On With Shares Of SeaStar Medical Today?

Shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) are trading lower Friday after the company initiated a reverse stock split.

SeaStar Medical Holding stock is at significant support. Why are ICU shares at support?

What To Know: SeaStar Medical’s shareholders approved a ten for one reverse stock split this week, according to an SEC filing. Every 10 shares of the company’s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock. The split will be effective January 2.

SeaStar Medical will not issue any fractional shares in connection with the reverse split. Instead, the number of shares will be rounded up to the next whole number. After the reverse split is effective, the company will have approximately 3.8 million shares of common stock issued and outstanding.

ICU Price Action: SeaStar Medical shares were down 20.38%, trading at $0.24 at the time of publication, according to Benzinga Pro.

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