Stereotaxis Announces $15 Million Common Stock Financing
May 26 2020 - 9:00AM
Stereotaxis (NYSE: STXS), the global leader in innovative robotic
technologies for the treatment of cardiac arrhythmias, today
announced that it has entered into a securities purchase agreement
with certain funds managed by Consonance Capital Management, a
prominent healthcare-focused institutional investor. Stereotaxis is
issuing approximately 3.66 million shares of registered common
stock at a purchase price of $4.10 per share, for gross and net
proceeds of approximately $15 million. The purchase price reflects
a 9% premium to Stereotaxis’ 10-day volume-weighted average trading
price.
“We are excited to have Consonance Capital join
us in our mission to improve patient care and positively transform
interventional medicine with robotics,” said David Fischel,
Chairman and CEO. “This financing is particularly meaningful during
this period of uncertainty and disruption, and strengthens our
commitment to significant innovation and support of our
customers.”
Additional details regarding the offering will
be included in the Form 8-K to be filed by Stereotaxis with the
Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
securities, nor shall it constitute an offer, solicitation or sale
in any jurisdiction in which such offer, solicitation or sale is
unlawful.
About StereotaxisStereotaxis is
the global leader in innovative robotic technologies designed to
enhance the treatment of arrhythmias and perform endovascular
procedures. Its mission is the discovery, development and delivery
of robotic systems, instruments, and information solutions for the
interventional laboratory. These innovations help physicians
provide unsurpassed patient care with robotic precision and safety,
improved lab efficiency and productivity, and enhanced integration
of procedural information. The core components of Stereotaxis’
systems have received regulatory clearance in the United States,
European Union, Japan, Canada, China, and elsewhere. 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 continue to manage expenses
and cash burn rate at sustainable levels, 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 healthcare policy in the United
States, including changes in government reimbursement of
procedures, dependence upon third-party vendors, timing of
regulatory approvals, the impact of the recent coronavirus
(COVID-19) pandemic and our response to it, 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.
Company Contacts:David L.
FischelChairman and Chief Executive Officer
Kimberly R. PeeryChief Financial Officer
314-678-6100investors@stereotaxis.com
Stereotaxis (AMEX:STXS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Stereotaxis (AMEX:STXS)
Historical Stock Chart
From Apr 2023 to Apr 2024