Catheter Precision, Inc. Announces $1.5 Million Private Placement Equity Financing and Potential Strategic Alliance

Fort Mill, S.C., May 12, 2025 (GLOBE NEWSWIRE) -- Catheter Precision (VTAK - NYSE/American), a US based medical device company focused on developing technologically advanced products for the cardiac electrophysiology market, today announced that it has entered into securities purchase agreements with institutional investors for a $1.5 million private placement equity financing and the acquisition of certain promissory notes of QHSLab, Inc.

David Jenkins, CEO of Catheter Precision, commented, "We are pleased to have entered into these transactions.  The transactions supply financial resources for our company, as well as the potential to work with another company to expand our reach into general cardiology and further our reach into cardiac electrophysiology with office-oriented product lines, extending the reach of our direct US sales force currently focused on our hospital oriented cardiac electrophysiology products."

Ladenburg Thalmann & Co. Inc. acted as exclusive placement agent for these transactions.
        

In the funding portion of the transaction, in exchange for $1.5 million in cash, the Company sold 1,500 shares of its Series B Preferred Stock (“Preferred Stock”) to the investors which are convertible into an aggregate of 4,287,000 shares of common stock of the Company, or 2,858 shares of common stock per share of preferred, and 4,285,716 Warrants to purchase the Company’s common stock at an exercise price of $0.50 per share. The Warrants may be called by the company should the underlying common stock trade for $1.50 or more within a twenty consecutive day period while there is an effective registration statement. The Warrants have a five 1/2-year term from the date stockholder approval of their exercise is obtained.  The Preferred Stock and Warrants issued in this transaction do not have any variable priced conversion features, price-based ratchets, or except in certain specified situations, alternative cashless exercise provisions, voting rights or pay a dividend. The substantial majority of the Preferred Stock, and 100% of the Warrants issued in the transaction are not convertible until an affirmative vote of the Company’s shareholders.