Transaction Information
Ra Medical Systems, Inc. (NYSEAmerican: RMED) announced that it has closed its previously announced private placement, which generated $8 million in gross proceeds.
The Company issued Class A units consisting of one common share, one Series F and one Series G warrant at a purchase price of $1.60 per unit. In lieu of Class A units, for beneficial ownership purposes, the Company issued Class B units consisting of convertible preferred stock convertible into approximately 625 shares of common stock shares per share of preferred, one Series F and one Series G warrant. A total of 497,908 shares of common stock, 7,203 convertible preferred shares convertible into 4,501,060 common shares, 4,999,093 Series F and 4,999,093 Series G warrants were issued in the private placement. The Series F, exercisable for two years, and Series G warrants, exercisable for six years, have a fixed exercise price of $3.00 per warrant. The securities issued in the private placement contain no price reset or anti-dilution features.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for the offering.
The securities offered in the private placement and described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements.
About Ra Medical Systems, Inc.
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. For more information, visit http://www.ramed.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.