Skyway Advises SPAC on $85 Million Medical Technology Merger

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 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 the capital markets and thereby position the company to accelerate the development and advancement of its lead programs for acute kidney injury (AKI) in both pediatric and adult patients, as well as advance other SeaStar Medical programs in acute and chronic indications.

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

LMAO CEO, Bruce Rodgers, commented “We consulted 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 timeline.  Skyway’s health care and medical device industry depth allowed us to evaluate this transaction within the required timeline to reach definitive agreement.  We are excited for what the future holds for SeaStar Medical with LMAO’s financial resources behind them.”

Russ Hunt, CEO of Skyway Capital Markets, commented “With over 600 special purpose acquisition companies racing against the clock to find and close a transaction before their vehicles expire, in an environment where very few are actually succeeding, we are incredibly proud of our team at Skyway for getting this transaction across the finish line. We are even more proud of the quality of the target  brought to the table and the future growth potential LMAO investors will now have access to. Healthcare and technology continue to be attractive sectors and we remain highly active in both.”

Skyway Capital Markets Chairman, Marty Traber, added “Our family and founder owned business clients ask us regularly 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 are not easy transactions 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 closely held, founder-owned, family-owned middle-market businesses, and select public companies.