CHF Solutions Receives $1.66 Million under SBA’s Paycheck Protection Program and $1.1 Million from Warrant Exercises
CHF SOLUTIONS INC (CHFS)
Last chf solutions inc earnings: 2/20 08:30 am
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
EDEN PRAIRIE, Minn., April 21, 2020 (GLOBE NEWSWIRE) -- CHF Solutions (Nasdaq: CHFS), a small and growing medical device company dedicated to changing the lives of patients suffering from fluid overload, announced receipt of $1.66 million under the Paycheck Protection Program (PPP) under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. This amount represents the full amount available to the company, based on its payroll expense. In addition, the company has received approximately $1.1 million in proceeds from the exercise of outstanding warrants. With these funds, in addition to the proceeds from the three previously announced equity financings closed earlier this year, the company’s total pro forma cash balance, as of December 31, 2019, is approximately $15.7 million, based on its most recently reported financial results. “We are impressed and thankful for the speed and efficiency in which our bank processed our application, providi
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