Catheter Precision announces exercise of warrants for $4.9M in gross proceeds

Catheter Precision (VTAK) announced the entry into a definitive agreement for the immediate exercise of certain outstanding Series E, Series F, Series G, Series H and Series I warrants to purchase up to an aggregate of 5,347,981 shares of the Company’s stock at a reduced exercise price of $0.70 for total gross proceeds of approximately $3.7 million. An additional $1,185,000 of gross proceeds were received through the exercise of warrants over the last week in accordance with their original terms. Ladenburg Thalmann & Co. Inc. acted as the exclusive warrant inducement agent for the exercise of the Existing Warrants. In consideration for the immediate exercise of the Existing Warrants, the Company will issue new unregistered Series K warrants to purchase up to 10,695,962 shares of common stock. The new warrants will have an exercise price of $0.70, will be exercisable only after shareholder approval of their exercise has been obtained, and will have a term of 5.5 years from the date of exercisability.