Cardio Diagnostics Holdings, Inc. (Cardio) has filed a Form S-3 with the Securities and Exchange Commission (SEC) on January 26, 2024, for a proposed public offering of securities. The registration statement includes common stock, preferred stock, warrants, units, and subscription rights, with the potential to raise up to $17.0 million. Cardio, a company focused on developing products for cardiovascular diseases leveraging AI-driven genetic-epigenetic technology, has not declared dividends historically and has incurred net losses in recent years. The company plans to use the net proceeds for general corporate purposes, including working capital. Cardio's common stock and public warrants are listed on the Nasdaq Capital Market under the symbols 'CDIO' and 'CDIOW' respectively. The offering will be made through an 'at...Show More

Cardio Diagnostics Holdings, Inc. (Cardio) has filed a Form S-3 with the Securities and Exchange Commission (SEC) on January 26, 2024, for a proposed public offering of securities. The registration statement includes common stock, preferred stock, warrants, units, and subscription rights, with the potential to raise up to $17.0 million. Cardio, a company focused on developing products for cardiovascular diseases leveraging AI-driven genetic-epigenetic technology, has not declared dividends historically and has incurred net losses in recent years. The company plans to use the net proceeds for general corporate purposes, including working capital. Cardio's common stock and public warrants are listed on the Nasdaq Capital Market under the symbols 'CDIO' and 'CDIOW' respectively. The offering will be made through an 'at the market offering' agreement with Craig-Hallum Capital Group LLC, allowing sales directly into the market at varying prices. The company's management will have broad discretion over the use of the net proceeds, and there is no guarantee of the minimum amount raised. The offering may result in dilution for current shareholders and the stock may become the target of a 'short squeeze' due to market volatility.