Catheter Precision completes $2.8 million Series C-4 preferred stock sale
Catheter Precision completes $2.8 million Series C-4 preferred stock sale
Catheter Precision, Inc. (NYSE:VTAK) announced the closing of a private placement of 2,821 shares of its Series C-4 Convertible Preferred Stock for gross proceeds of $2,821,000. The transaction was completed on Thursday, according to a statement in a recent SEC filing. The capital raise comes as the company, with a market cap of just $0.71 million, faces significant liquidity challenges. According to InvestingPro analysis, the company’s short-term obligations exceed its liquid assets, with a current ratio of just 0.06. InvestingPro offers 16 additional tips for VTAK investors seeking deeper insights.
The Series C-4 Preferred Stock, with a par value of $0.0001 per share and a stated value of $1,000 per share, was issued to certain investors who exercised their additional investment rights under a Securities Purchase Agreement dated March 9, 2026. Dawson James Securities, Inc. acted as the placement agent and received customary fees and expenses.
Catheter Precision stated that it intends to use the net proceeds for working capital, general corporate purposes, and the redemption of all its outstanding Series B Convertible Preferred Stock.
The company filed a Certificate of Designation for the Series C-4 Preferred Stock with the Secretary of State of Delaware on July 27, 2026. According to the filing, the Series C-4 Preferred Stock ranks senior to the company’s common stock with respect to dividends and distributions upon liquidation, dissolution, or winding-up of the company. Conversion of the Series C-4 Preferred Stock into common stock will result in dilution for existing holders of common stock.
The shares were issued in a transaction exempt from registration under the Securities Act of 1933, relying on Section 4(a)(2) and Rule 506(b) of Regulation D, as all purchasers were accredited investors and the offering did not involve general solicitation or advertising. Securities issued in the offering are subject to transfer restrictions and customary restrictive legends.
This summary is based on a press release statement contained in the company’s recent SEC filing.
In other recent news, Catheter Precision, Inc. reported significant financial developments for the first half of 2026. The company announced a 200% revenue growth in the first quarter, reaching $432,000, up from $143,000 in the same period the previous year. This impressive growth is attributed to the success of its electrophysiology platform and the acquisition of Flyte. Additionally, Flyte, a subsidiary of Catheter Precision, generated over $1 million in revenue during the first six months of the year, while adding more than 1,000 new platform users and facilitating 118 flights.
In another strategic move, Flyte acquired approximately 2.9 million shares of Volato Group, Inc., representing about 7.5% of Volato’s outstanding common stock. The financial terms of this investment were not disclosed. These recent developments highlight Catheter Precision’s expanding influence in both the medical device and aviation sectors.