Business Context and Reporting Period
This Form 8-K reports the consummation of the Initial Public Offering (IPO) by LMF Acquisition Opportunities, Inc. (not Seastar Medical Holding Corp) on January 28, 2021. The filing was submitted on February 3, 2021. The Company is a Special Purpose Acquisition Company (SPAC) incorporated in Delaware.
Key Financial Metrics
- Gross Proceeds from IPO: $103,500,000 from the sale of 10,350,000 Units at $10.00 per Unit.
- Gross Proceeds from Private Placement: $5,198,000 from the sale of 5,198,000 Private Placement Warrants to the Sponsor.
- Total Funds in Trust: $109,238,000 deposited into a U.S.-based trust account.
- Deferred Underwriting Discount: $3,622,500 included in the trust proceeds.
- Over-Allotment Option: Underwriters granted a 45-day option to purchase up to 1,125,000 additional Units.
- Warrant Exercise Price: $11.50 per share.
Material Changes
The filing represents the Company's initial public listing and capitalization event. There is no prior comparable period for revenue or operating profit as the Company was formed for the purpose of effecting a merger or acquisition and had no operating history prior to this date.
Outlook, Risks, and Management Commentary
The Company has placed the IPO and Private Placement proceeds into a trust account to be used for a future business combination. An audited balance sheet as of January 28, 2021, is included as Exhibit 99.1. The filing does not provide specific guidance on a target acquisition or timeline beyond the standard SPAC structure.
Investor Verification Checklist
- Verify the identity of the registrant: The filing is for LMF Acquisition Opportunities, Inc., not Seastar Medical Holding Corp.
- Confirm the status of the over-allotment option (45-day window) and whether it was exercised.
- Review Exhibit 99.1 for the detailed audited balance sheet reflecting the trust account balance.
- Monitor future filings for the identification of a target business combination.