Stereotaxis, Inc. (NASDAQ:STXS), a global leader in innovative
technologies for the treatment of cardiac arrhythmias, today
announced it is extending its registered offering of subscription
warrants to the holders of common shares, as described in its
prospectus supplement filed with the Securities and Exchange
Commission (SEC) on September 4, 2015 (the "Prospectus"). The
warrants offering was originally scheduled to expire on Wednesday,
September 30, 2015 and the Company is extending the warrants
offering by two days in order to better ensure that its
stockholders who hold shares in brokerage accounts receive the
offering materials and have time to act on them. The subscription
warrants will now be exercisable until 5:00 p.m. New York City time
on Friday, October 2, 2015.
As previously announced, the Company is conducting a registered
offering of subscription warrants to the holders of its common
shares, which functions similarly to a rights offering. The Company
declared the record date for determination of stockholders eligible
to participate as September 9, 2015 at 5:00 p.m. New York City
time, at which time, each holder was issued, at no charge, one
subscription warrant for every four common shares held, entitling
the holder to purchase one share of common stock at a price of
$1.10 per share. As previously reported on Form 4 filings made with
the SEC on September 24, 2015, Stereotaxis CEO William Mills and
CFO Martin Stammer have fully exercised their allotted subscription
warrants to purchase Stereotaxis common shares.
The warrants commenced being listed on the NASDAQ Capital Market
under the symbol "STXSW" on September 14, 2015 and will continue
through the new expiration date of October 2, 2015. In addition to
being able to purchase their pro rata portion of the shares
offered, based on their ownership as of the record date of the
warrants offering, Stereotaxis stockholders who exercise all of
their warrants may subscribe to purchase additional common shares
pursuant to an over-subscription privilege, subject to certain
limitations and subject to allotment, as described in the
Prospectus. No fractional subscription warrants will be distributed
and no fractional shares will be issued, pursuant to the warrants
offering. Any fractional warrants issuable, pursuant to the
warrants offering, resulting from the number of shares owned as of
the record date or fractional shares issuable, pursuant to the
over-subscription, resulting from prorations or other limitations,
will be eliminated by rounding down to the nearest whole warrant or
whole share.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any offer, solicitation, or sale of the
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to the registration
or qualification of the securities under the securities law of such
state or jurisdiction. A shelf registration statement on Form S-3,
pursuant to which the warrants are being issued, was filed with the
SEC on November 27, 2013 and declared effective on December 11,
2013. The warrants offering is being made only by means of the
Prospectus together with a base prospectus filed with the
registration statement. Copies of the Prospectus and base
prospectus, which contain further details regarding the warrants
offering, will be provided to all stockholders, as of the record
date.
Holders of Stereotaxis' shares who hold their shares in "street
name" at a brokerage firm, bank or similar organization, like the
vast majority of Stereotaxis stockholders, may direct any questions
about the warrants offering to the broker or bank at the number
identified in the offering materials mailed to the holders.
Stockholders who hold their shares directly may contact the
warrants agent, Broadridge Corporate Issuer Solutions, Inc. at
(855) 300-4994.
About Stereotaxis
Stereotaxis is a healthcare technology and innovation leader in
the development of robotic cardiology instrument navigation systems
designed to enhance the treatment of arrhythmias and coronary
disease, as well as information management solutions for the
interventional lab. Over 100 issued patents support the Stereotaxis
platform, which helps physicians around the world provide
unsurpassed patient care with robotic precision and safety,
improved lab efficiency and productivity, and enhanced integration
of procedural information. Stereotaxis' core Epoch® Solution
includes the Niobe® ES remote magnetic navigation system, the
Odyssey® portfolio of lab optimization, networking and patient
information management systems, and the Vdrive™ robotic navigation
system and consumables.
The core components of Stereotaxis' systems have received
regulatory clearance in the United States, European Union, Canada,
China, Japan, and elsewhere. The V-Sono™ ICE catheter manipulator,
V-Loop™ variable loop catheter manipulator, and V-CAS™ catheter
advancement system have received clearance in the United States,
Canada, and the European Union. For more information, please visit
www.stereotaxis.com.
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe", "estimate", "project", "expect", or similar expressions.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to, the
Company's ability to raise additional capital on a timely basis and
on terms that are acceptable, its ability to continue to manage
expenses and cash burn rate at sustainable levels, its ability to
continue to work with lenders to extend, repay or refinance
indebtedness on acceptable terms, continued acceptance of the
Company's products in the marketplace, the effect of global
economic conditions on the ability and willingness of customers to
purchase its systems and the timing of such purchases, competitive
factors, changes resulting from the recently enacted healthcare
reform in the United States, including changes in government
reimbursement procedures, dependence upon third-party vendors,
timing of regulatory approvals, and other risks discussed in the
Company's periodic and other filings with the Securities and
Exchange Commission. By making these forward-looking statements,
the Company undertakes no obligation to update these statements for
revisions or changes after the date of this release. There can be
no assurance that the Company will recognize revenue related to its
purchase orders and other commitments in any particular period, or
at all, because some of these purchase orders and other commitments
are subject to contingencies that are outside of the Company's
control. In addition, these orders and commitments may be revised,
modified, delayed or canceled, either by their express terms, as a
result of negotiations, or by overall project changes or
delays.
CONTACT: STXS Company Contact:
Martin Stammer
Chief Financial Officer
314-678-6155
STXS Investor Contact:
Todd Kehrli / Jim Byers
MKR Group, Inc.
323-468-2300
stxs@mkr-group.com