Business Context and Reporting Period
Company: Stereotaxis, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 15, 2007
Event: Entry into a Material Definitive Agreement for a registered direct offering of common stock.
Key Financial Metrics
This filing reports a capital raise event rather than periodic operating results. Specific metrics include:
- Shares Issued: 1,919,000 shares of common stock ($0.001 par value).
- Purchase Price: $10.50 per share.
- Expected Gross Proceeds: $20,149,500 (before deducting offering expenses).
- Investors: Federated Kaufmann Fund, Federated Kaufmann Fund II, and TimesSquare Capital Management, LLC.
Note: The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity positions as this is a transaction-specific report.
Material Changes
The primary material change is the increase in equity capital resulting from the sale of 1,919,000 shares. The transaction was executed pursuant to an effective Registration Statement on Form S-3 filed on August 31, 2006.
Guidance, Outlook, and Risks
Management Commentary: The Company entered into a Securities Purchase Agreement to facilitate the offering. The filing includes a legal opinion and consent incorporated by reference.
Risks and Contingencies: The filing does not explicitly detail new risks or contingencies beyond the standard execution of the securities offering. Proceeds are subject to deduction of offering expenses.
Investor Verification Checklist
- Verify the final net proceeds after deducting offering expenses.
- Confirm the dilution impact of the 1,919,000 new shares on existing shareholders.
- Review the attached Securities Purchase Agreement (Exhibit 10.1) for specific covenants or restrictions.
- Check subsequent filings for the actual use of proceeds.