Sunshine Heart (NSDQ:SSH) today announced the pricing of an upcoming underwritten public offering, looking to raise $8 million.

In the offering, Eden Prairie, Minn.-based Sunshine Heart will offer Class A units at $1 per and Class B units at $1,000 per unit.

Each Class A unit will consist of 1 share of common stock and 1 5-year warrant to purchase a share of common stock at $1.10 per share. Class B units will consist of 1 share of preferred stock, convertible into 1,000 shares of common stock and warrants to purchase an additional 1,000 shares at $1.10 per share.

A total of 1.6 million shares of common stock will be offered in the round, with 6,400 shares of preferred stock convertible into 6.4 million shares of common stock, as well as warrants to purchase 8 million shares of common stock.

Sunshine Heart said the offering will include a 45-day option to purchase an additional 1.2 million shares of common stock, as well as warrants to purchase an additional 1.2 million shares at the public offering price per share and per warrant, according to a press release.

In February, Sunshine Heart said that NASDAQ gave official word that the company was complying with its $1 minimum bid price requirement.

The news comes after the company pulled the trigger on a 1-for-30 reverse stock split last month, a move that sent shares tumbling. Shares dropped approximately 38% since the split went into effect on Jan. 13.