Catheter Precision Enters Material Definitive Agreement

TL;DR

Catheter Precision just signed a big deal, creating a new financial obligation.

AI Summary

On August 23, 2024, Catheter Precision, Inc. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The company, formerly known as Ra Medical Systems, Inc., is incorporated in Delaware and headquartered in Fort Mill, SC.

Why It Matters

This filing indicates a significant new agreement for Catheter Precision, Inc., potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to performance, financing, and market reception.

Key Players & Entities

• Catheter Precision, Inc. (company) — Registrant
• August 23, 2024 (date) — Date of earliest event reported
• Ra Medical Systems, Inc. (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• Fort Mill, SC (location) — Business address

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share VTAK NYSE American Indic
• $500,000 — mount May 30, 2024 David A. Jenkins $500,000 June 25, 2024 FatBoy Capital, L.P. $
• $150,000 — 0 June 25, 2024 FatBoy Capital, L.P. $150,000 July 1, 2024 FatBoy Capital, L.P. $2
• $250,000 — 00 July 1, 2024 FatBoy Capital, L.P. $250,000 July 18, 2024 FatBoy Capital, L.P. $
• $100,000 — 0 July 18, 2024 FatBoy Capital, L.P. $100,000 July 25, 2024 Jenkins Family Charitab

Filing Documents

• rmed_8k.htm (8-K) — 34KB
• rmed_ex101.htm (EX-10.1) — 23KB
• rmed_ex102.htm (EX-10.2) — 20KB
• rmed_ex103.htm (EX-10.3) — 20KB
• 0001654954-24-011150.txt ( ) — 238KB
• vtak-20240823.xsd (EX-101.SCH) — 6KB
• vtak-20240823_lab.xml (EX-101.LAB) — 14KB
• vtak-20240823_cal.xml (EX-101.CAL) — 1KB
• vtak-20240823_pre.xml (EX-101.PRE) — 9KB
• vtak-20240823_def.xml (EX-101.DEF) — 2KB
• rmed_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Short Term Promissory Notes On August 23, 2024, Catheter Precision, Inc. (the "Company") amended each of its currently outstanding 8% Short Term Promissory Notes (the "Notes") identified in the table below, each of which had an original Maturity Date of August 30, 2024, to: extend the Maturity Date to January 31, 2026, increase the Interest Rate to 12% from and after August 31, 2024; and provide that interest accrued through August 30, 2024, shall be due and payable as of such date. The amendments were each memorialized by a First Amendment to 8% Short Term Promissory Note(s) (the "Amendments") entered into between the Company and the Holder of the relevant Note. Original Issuance Date of Note Holder Principal Amount May 30, 2024 David A. Jenkins $500,000 June 25, 2024 FatBoy Capital, L.P. $150,000 July 1, 2024 FatBoy Capital, L.P. $250,000 July 18, 2024 FatBoy Capital, L.P. $100,000 July 25, 2024 Jenkins Family Charitable Institute $500,000 David A. Jenkins is the Executive Chair and Chief Executive Officer of the Company; is the managing member of the general partner of FatBoy Capital, L.P.; and was the Settlor and Initial Trustee of Jenkins Family Charitable Institute (the "Trust"). The current Trustee of the Trust is Mr. Jenkins' adult daughter. In addition to his roles as a director and officer of the Company, Mr. Jenkins and his affiliates beneficially own over 10% of the common stock of the Company, Series X Preferred convertible into over 800,000 shares of Company common stock (subject to certain conditions), stock options issued by the Company, and the rights to receive royalties on sales of our LockeT device equal to an aggregate 11.77% of net sales, as defined in the relevant agreements. Mr. Jenkins is a co-inventor of certain of our products and has previously assigned his rights in relation to those inventions to us. In addition, Missiaen Huck, Mr. Jenki

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 First Amendment to 8% Short Term Promissory Notes Payable to FatBoy Capital, L.P. 10.2 First Amendment to 8% Short Term Promissory Note Payable to David A. Jenkins 10.3 First Amendment to 8% Short Term Promissory Note Payable to Jenkins Family Charitable Institute 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document) 2

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: August 27, 2024 By: /s/ Margrit Thomassen Margrit Thomassen Interim Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR