Ra Medical Systems Announces Date of Special Shareholder Meeting

Ra Medical Systems (NYSE American:RMED) has announced a special shareholder meeting scheduled for March 21, 2023.

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Rhea-AI Summary

Ra Medical Systems (NYSE American:RMED) has announced a special shareholder meeting scheduled for March 21, 2023. Shareholders of record as of February 3, 2023 are eligible to vote on key items, including an $8 million private financing and the conversion of preferred stock into common stock. The majority of this stock conversion is not expected to occur until mid-2024. The preferred stock was originally issued during the acquisition of Catheter Precision, Inc.. Ra Medical, along with its subsidiary, focuses on developing innovative solutions for cardiac arrhythmias.

Positive

Announcement of a special shareholder meeting allows for shareholder engagement.
A proposed $8 million private financing can enhance liquidity.

Negative

Preferred stock conversion will be delayed until mid-2024, indicating potential liquidity concerns.

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02/10/2023 - 09:20 AM EST

FORT MILL, SC / ACCESSWIRE / February 10, 2023 / Ra Medical Systems (NYSE American:RMED) today announced the date of March 21, 2023 as the date of its special shareholder meeting. Shareholders of record as of February 3, 2023 are entitled to vote at the meeting.

Among other items, shareholders are requested to vote in favor of a previously announced $8 million private financing, and to vote in favor of the conversion of RMED preferred stock into common stock, the majority of which will not be converted until mid-2024, at the earliest. The preferred stock was issued in connection with the acquisition of Catheter Precision, Inc., earlier this year.

About Ra Medical Systems

Ra Medical, and its wholly owned subsidiary Catheter Precision, is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.

CONTACTS:

At the Company
David Jenkins
973-691-2000
mhuck@catheterprecision.com

SOURCE: Ra Medical Systems, Inc.

View source version on accesswire.com:
https://www.accesswire.com/738909/Ra-Medical-Systems-Announces-Date-of-Special-Shareholder-Meeting

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When is Ra Medical Systems' special shareholder meeting?

Ra Medical Systems' special shareholder meeting is scheduled for March 21, 2023.

What is the significance of the $8 million private financing for RMED?

The $8 million private financing aims to improve liquidity for Ra Medical Systems.

What date must shareholders be recognized to vote at the RMED meeting?

Shareholders must be recorded by February 3, 2023, to vote at the RMED meeting.

Why is the conversion of preferred stock into common stock significant for RMED?

The conversion of preferred stock into common stock is significant as it affects the company's equity structure, but the majority won't occur until mid-2024.

Ra Medical Systems Announces Date of Special Shareholder Meeting