Catheter Precision, Inc. Announces 1-for-10 Reverse Stock Split

FORT MILLS, SC / ACCESSWIRE / July 15, 2024 / Catheter Precision, Inc. (NYSE American: VTAK), a US-based medical device company, announced the effectiveness of its 1-for-10 reverse stock split of its common stock, effective at 12:01 A.M. Eastern Time on July 15, 2024. The company's common stock will continue trading under the symbol "VTAK" on a split-adjusted basis starting July 15, 2024. The new CUSIP number for the common stock is 74933X 609.

The reverse stock split will convert every 10 issued shares into one issued share, without altering the par value per share. Stockholders will see their shares automatically adjusted. No new stock certificates are required, although stockholders may exchange them if they wish.

This split uniformly affects all stockholders and will not alter percentage equity interests, except where fractional shares occur. Fractional shares will not be issued; instead, stockholders will receive net proceeds from aggregated and sold fractional shares.

The split will reduce the number of issued shares from 9,012,518 to approximately 901,251. Proportional adjustments will be made to equity awards, warrants, and convertible securities. Stockholders with brokerage accounts should contact their brokers for questions, while all others should reach out to the company's transfer agent, Equiniti Trust Company.

Additional information is available on the SEC’s website and the company’s site. CEO David Jenkins stated the reverse split helps ensure compliance with NYSE American’s requirements and aims to lower franchise taxes. It also seeks to attract new investors without affecting market capitalization.