$VTAK Catheter Precision, Inc. Announces Effective
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Posted On: 07/15/2024 9:03:35 AM
$VTAK Catheter Precision, Inc. Announces Effectiveness of 1-for-10 Reverse Stock Split
https://www.accesswire.com/888642/catheter-pr...-announces
FORT MILLS, SC / ACCESSWIRE / July 15, 2024 / Catheter Precision, Inc. (NYSE American:VTAK), a US based innovative medical device company, announced today that its previously announced 1-for-10 reverse stock split of its common stock became effective at 12:01 A.M. Eastern Time, on July 15, 2024. The Company's common stock will continue to be traded on the NYSE American under the symbol "VTAK" and will begin trading on a split-adjusted basis when the market opens on July 15, 2024. The new CUSIP number for the Company's common stock following the reverse stock split will be 74933X 609.
Pursuant to the reverse stock split, every 10 shares of the Company's issued common stock will be converted automatically into one issued share of common stock without any change in the par value per share. Stockholders holding shares through book entry on the Company's records will have their shares automatically adjusted to reflect the 1-for-10 reverse stock split. It is not necessary for stockholders holding shares of the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. No fractional shares of common stock will be issued in connection with the reverse split. Stockholders of record who otherwise would be entitled to receive fractional shares, will be entitled to receive their pro rata portion of the net proceeds obtained from the aggregation and sale by the exchange agent of the fractional shares resulting from the reverse stock split (reduced by any customary brokerage fees, commissions and other expenses).
The reverse stock split will reduce the number of issued shares of the Company's common stock from 9,012,518 shares to approximately 901,251 shares. Proportional adjustments will be made to the number of shares of the Company's common stock issuable upon exercise or conversion of the Company's equity awards and warrants and other convertible securities, as well as the applicable exercise price, to the extent applicable. Stockholders whose shares are held in brokerage accounts should direct any questions concerning the reverse stock split to their broker. All stockholders of record may direct questions to the Company's transfer agent, Equiniti Trust Company, via email at https://equiniti.com/us/ast-access/individuals and select GET HELP or by telephone at (800) 937-5449 or (718) 921-8124.
Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC"
on May 16 2024, which is available free of charge at the SEC's website, www.sec.gov, and on the Company's website at https://catheterprecision.com.
"While the reverse stock split is primarily designed to help ensure our continued technical compliance with the NYSE American minimum stock price requirement and allow us to lower our Delaware franchise taxes, we also hope to broaden the base of potential investors in Catheter Precision as we strive for greater efficiencies, increased cash flow and profitable growth. The split also has no direct impact on our market capitalization," said David Jenkins, Chief Executive Officer.
https://www.accesswire.com/888642/catheter-pr...-announces
FORT MILLS, SC / ACCESSWIRE / July 15, 2024 / Catheter Precision, Inc. (NYSE American:VTAK), a US based innovative medical device company, announced today that its previously announced 1-for-10 reverse stock split of its common stock became effective at 12:01 A.M. Eastern Time, on July 15, 2024. The Company's common stock will continue to be traded on the NYSE American under the symbol "VTAK" and will begin trading on a split-adjusted basis when the market opens on July 15, 2024. The new CUSIP number for the Company's common stock following the reverse stock split will be 74933X 609.
Pursuant to the reverse stock split, every 10 shares of the Company's issued common stock will be converted automatically into one issued share of common stock without any change in the par value per share. Stockholders holding shares through book entry on the Company's records will have their shares automatically adjusted to reflect the 1-for-10 reverse stock split. It is not necessary for stockholders holding shares of the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. No fractional shares of common stock will be issued in connection with the reverse split. Stockholders of record who otherwise would be entitled to receive fractional shares, will be entitled to receive their pro rata portion of the net proceeds obtained from the aggregation and sale by the exchange agent of the fractional shares resulting from the reverse stock split (reduced by any customary brokerage fees, commissions and other expenses).
The reverse stock split will reduce the number of issued shares of the Company's common stock from 9,012,518 shares to approximately 901,251 shares. Proportional adjustments will be made to the number of shares of the Company's common stock issuable upon exercise or conversion of the Company's equity awards and warrants and other convertible securities, as well as the applicable exercise price, to the extent applicable. Stockholders whose shares are held in brokerage accounts should direct any questions concerning the reverse stock split to their broker. All stockholders of record may direct questions to the Company's transfer agent, Equiniti Trust Company, via email at https://equiniti.com/us/ast-access/individuals and select GET HELP or by telephone at (800) 937-5449 or (718) 921-8124.
Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC"
on May 16 2024, which is available free of charge at the SEC's website, www.sec.gov, and on the Company's website at https://catheterprecision.com. "While the reverse stock split is primarily designed to help ensure our continued technical compliance with the NYSE American minimum stock price requirement and allow us to lower our Delaware franchise taxes, we also hope to broaden the base of potential investors in Catheter Precision as we strive for greater efficiencies, increased cash flow and profitable growth. The split also has no direct impact on our market capitalization," said David Jenkins, Chief Executive Officer.
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