Catheter Precision, Inc. Announces Closing of $3.6 Million Underwritten Public Offering and Exercise of Overallotment Option

Rhea-AI Summary

Catheter Precision (NYSE American:VTAK) has closed its public offering of 805,900 common stock units and 2,773,000 pre-funded warrant units, priced at $1.00 and $0.9999 per unit respectively. The offering includes 458,623 common stock units issued upon exercise of the underwriters' over-allotment option. Each unit consists of one share (or pre-funded warrant), and three warrants (Series H, I, and J) with varying expiration dates. The total gross proceeds amount to $3.6 million. Ladenburg Thalmann & Co. acted as the sole book-running manager for this offering, which was conducted pursuant to effective registration statements filed with the SEC.

Positive

• Successful closing of $3.6 million public offering
• Full exercise of overallotment option, indicating strong demand
• Warrants have fixed pricing, avoiding potential future dilution from variable pricing features

Negative

• Potential dilution for existing shareholders due to new share issuance
• Multiple warrant series could lead to further dilution if exercised

FORT MILL, SC / ACCESSWIRE / September 3, 2024 / Catheter Precision, Inc. (NYSE American:VTAK), a U.S.-based innovative medical device company, today announced the closing of its previously announced public offering of 805,900 common stock units, including 458,623 common stock units issued upon exercise of the underwriters' over-allotment option, priced at a public offering price of $1.00 per unit, and 2,773,000 pre-funded warrant units, priced at a public offering price of $0.9999 per unit. Each common stock unit and pre-funded warrant unit consists of one share of common stock (or, in lieu of common stock, a pre-funded warrant to purchase one share of common stock at an exercise price of $0.0001), one warrant to purchase one share of common stock that expires on the six month anniversary of the date of issuance (a "Series H Warrant"), one warrant to purchase one share of common stock that expires on the eighteen month anniversary of the date of issuance (a "Series I Warrant"), and one warrant to purchase one share of common stock that expires on the five year anniversary of the date of issuance (a "Series J Warrant"). The exercise price for each of the Series H Warrant, Series I Warrant and Series J warrant is $1.00 per share. The warrants are fixed priced and do not contain any variable pricing features. The securities comprising the units and pre-funded units were immediately separable and were issued separately.

Ladenburg Thalmann & Co. Inc. acted as the sole book-running manager.

The securities described above were offered pursuant to registration statements on Form S-1 (File Nos. 333-279930 and 333-281849), which were declared effective by the United States Securities and Exchange Commission ("SEC") on August 29,2024 and August 30, 2024. The offering was made solely by means of a prospectus. A final prospectus relating to the offering was filed with the SEC on September 3, 2024, and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus can be obtained at the SEC's website at http://www.sec.gov or from Ladenburg Thalmann & Co. Inc. Electronic copies of the final prospectus relating to the offering may be obtained, when available, from Ladenburg Thalmann & Co. Inc., 640 Fifth Avenue, 4th Floor, New York, New York 10019, or by telephone at (212) 409-2000, or by email at prospectus@ladenburg.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Catheter Precision

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.

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

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Contact Information

Missiaen Huck
COO
mhuck@catheterprecision.com
9736912000

SOURCE: Catheter Precision

View the original press release on accesswire.com

FAQ

What was the total amount raised in Catheter Precision's (VTAK) recent public offering?

Catheter Precision (VTAK) raised $3.6 million in gross proceeds from its recent public offering of common stock units and pre-funded warrant units.

How many types of warrants were included in Catheter Precision's (VTAK) offering units?

Catheter Precision's (VTAK) offering included three types of warrants: Series H (6-month expiry), Series I (18-month expiry), and Series J (5-year expiry), all with an exercise price of $1.00 per share.

What was the pricing of Catheter Precision's (VTAK) common stock units and pre-funded warrant units in the offering?

Catheter Precision (VTAK) priced its common stock units at $1.00 per unit and pre-funded warrant units at $0.9999 per unit in the public offering.

Who was the underwriter for Catheter Precision's (VTAK) public offering on September 3, 2024?

Ladenburg Thalmann & Co. Inc. acted as the sole book-running manager for Catheter Precision's (VTAK) public offering.