Ra Medical Systems & Catheter Precision Entered into a Definitive Merger Agreement to Treat Cardiac Arrhythmias
Shots:
- The outstanding convertible promissory notes & equity interests of Catheter Precision shall be converted into shares of common stock of Ra Medical. The merger is expected to close before the end of 2022
- Catheter Precision will become a wholly owned subsidiary of Ra Medical for stock reverse merger transactions. The combined company will focus on novel technologies and solutions for patients with cardiac arrhythmias
- Catheter Precision stakeholders will own ~80% of the combined company, and pre-merger Ra Medical equity holders will own ~20% on a fully diluted basis. Catheter Precision’s VIVO & Amigo was the US FDA-cleared & CE marked while the product pipeline of US-based Catheter Precision’s includes vessel closure devices is expected to be launched in H1’23
Ref: Businesswire | Image: Catheter Precision
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