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

Core Viewpoint - Catheter Precision has announced a $1.5 million private placement equity financing and the acquisition of promissory notes from QHSLab, Inc., aimed at enhancing its financial resources and expanding its market reach in cardiac electrophysiology and general cardiology [1][2]. Financing Details - The company sold 1,500 shares of Series B Preferred Stock for$1.5 million, which are convertible into 4,287,000 shares of common stock, equating to 2,858 shares of common stock per preferred share [3]. - Additionally, 4,285,716 Warrants were issued at an exercise price of $0.50 per share, with a call option if the common stock trades at$1.50 or more for twenty consecutive days [3]. - The Preferred Stock and Warrants do not have variable priced conversion features or voting rights, and the majority are not convertible until shareholder approval is obtained [3]. Acquisition of QHSLab Notes - The company issued another 1,500 shares of Series B Preferred Stock to acquire senior secured notes from QHSLab, with an approximate principal amount of $1.6 million, currently in default and accruing default interest at 18$0.20 per share, but their valuation is uncertain due to the default status [4]. - Catheter Precision and QHSLab are pursuing a strategic partnership in the cardiovascular space [4]. Company Overview - Catheter Precision is a U.S.-based medical device company focused on developing advanced solutions for cardiac arrhythmias and electrophysiology procedures [6].