Business Context and Reporting Period
This Form 8-K is a current report filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on July 23, 2021. The registrant is incorporated in Delaware and trades on the NYSE American under the symbol RMED. The report addresses a specific corporate governance event regarding the departure of a senior officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a current report focused on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the resignation of Daniel Horwood, the Company's General Counsel and Secretary. His resignation is effective July 30, 2021. The Company explicitly states that the resignation is not the result of any disagreement with the Company or its Board of Directors regarding operations, policies, or practices.
Guidance, Outlook, and Management Commentary
- Separation Terms: The Company expects to enter into a Separation Agreement with Mr. Horwood consistent with his Change in Control and Severance Agreement dated October 24, 2018.
- Benefits: The Severance Agreement provides for six months of salary and six months of COBRA benefits in exchange for signing a standard release of claims.
- Outlook: No financial guidance or operational outlook is provided in this filing.
Investor Verification Checklist
- Verify the effective date of Daniel Horwood's resignation (July 30, 2021).
- Confirm the terms of the Separation Agreement against the previously filed Severance Agreement (Exhibit 10.1 to the 2018 Form 10-Q).
- Monitor subsequent filings for the appointment of a new General Counsel and Secretary.
- Note that the company name in the metadata request ("Catheter Precision, Inc.") differs from the registrant in the filing ("Ra Medical Systems, Inc."); verify the correct entity for investment purposes.