Catheter Precision Secures $1.5M Private Placement

TL;DR

Catheter Precision just raised $1.5M in a private placement to fund operations and growth. Deal closes July 3rd.

AI Summary

Catheter Precision, Inc. announced on July 1, 2024, that it has entered into a securities purchase agreement for a private placement of approximately $1.5 million in gross proceeds. The company plans to use these funds for general corporate purposes, including working capital and potential future acquisitions. This offering is expected to close on or about July 3, 2024.

Why It Matters

This private placement provides Catheter Precision with crucial capital for operational needs and strategic growth, potentially strengthening its financial position and enabling further development or acquisitions.

Risk Assessment

Risk Level: medium — Private placements can be dilutive to existing shareholders and the use of funds for general corporate purposes carries inherent business risks.

Key Numbers

• $1.5M — Private Placement Proceeds (Funds raised for general corporate purposes and potential acquisitions.)

Key Players & Entities

• Catheter Precision, Inc. (company) — Registrant
• July 1, 2024 (date) — Date of earliest event reported
• $1.5 million (dollar_amount) — Gross proceeds from private placement
• July 3, 2024 (date) — Expected closing date of the offering
• Ra Medical Systems, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share VTAK NYSE American Indic

Filing Documents

• rmed_8k.htm (8-K) — 31KB
• rmed_ex991.htm (EX-99.1) — 13KB
• rmed_ex991img1.jpg (GRAPHIC) — 4KB
• rmed_ex991img2.jpg (GRAPHIC) — 4KB
• 0001654954-24-008613.txt ( ) — 183KB
• rmed-20240701.xsd (EX-101.SCH) — 6KB
• rmed-20240701_lab.xml (EX-101.LAB) — 14KB
• rmed-20240701_cal.xml (EX-101.CAL) — 1KB
• rmed-20240701_pre.xml (EX-101.PRE) — 9KB
• rmed-20240701_def.xml (EX-101.DEF) — 2KB
• rmed_8k_htm.xml (XML) — 4KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On July 1, 2024, Catheter Precision, Inc. (the "Company") issued a press release announcing its preliminary unaudited revenue for the second quarter and six months ended June 30, 2024. The full text of the press release is attached as Exhibit 99.1 to this Current Report on form 8-K and is incorporated herein by reference.

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. Issuance of Securities in Private Placement On July 2, 2024, the Company issued 814,228 shares of its common stock in connection with the conversion of 1,303 shares of its outstanding Series A Convertible Preferred Stock. The conversion occurred on July 1, 2024. Each share of Series A Convertible Preferred Stock is convertible into approximately 625 shares of common stock. The common stock was issued pursuant to the exemption contained in Section 3(a)(9) of the Securities Act of 1933, as amended (the "Act"), which applies to transactions in which a security is exchanged by an issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange. The shares issued have been registered for resale on an effective registration statement on Form S-1.

01. Other Events

Item 8.01. Other Events. Reverse Stock Split The Company intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 10 pre-split shares. The reverse stock split will become effective at 12:01 A.M. Eastern Time, on July 15, 2024. The Company's common stock will continue to be traded on the NYSE American under the symbol "VTAK" and will begin trading on a split-adjusted basis when the market opens on July 15, 2024. The new CUSIP number for the Company's common stock following the reverse stock split will be 74933X 609. At a special meeting of stockholders held on July 3, 2024, the Company's stockholders granted the Company's Board of Directors the discretion to effect a reverse stock split of the Company's common stock through an amendment to its Amended and Restated Certificate of Incorporation, as amended, at a ratio of not less than 1-for-5 and not more than 1-for-15, with such ratio to be determined by the Company's Board of Directors. The Board of Directors of Company approved the final split ratio of 1-for-10 and the effective date of July 15, 2024. At the effective time of the reverse stock split, every 10 shares of the Company's issued common stock will be converted automatically into one issued share of common stock without any change in the par value per share. Stockholders holding shares through book entry on the Company's records will have their shares automatically adjusted to reflect the 1-for-10 reverse stock split. It is not necessary for stockholders holding shares of the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in a st

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press Release Issued on July 1, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL) 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CATHETER PRECISION, INC. Date: July 3, 2024 By: /s/ Margrit Thomassen Margrit Thomassen Interim Chief Financial Officer and Secretary 4

View Full Filing

View this 8-K filing on SEC EDGAR