Stereotaxis, Inc. Form 8-K Summary
Business Context and Reporting Period
Stereotaxis, Inc. (STXS), a Delaware corporation, filed this Current Report on Form 8-K on May 25, 2020. The report details a material definitive agreement entered into on the same date regarding a registered offering of common stock.
Key Financial Metrics
This filing does not report periodic financial results such as revenue, profit, cash flow, or margins. The primary financial metric disclosed is the capital raise:
- Gross Proceeds: Approximately $15 million.
- Shares Issued: 3,658,537 shares of common stock.
- Price Per Share: $4.10.
- Investors: Consonance Capital Opportunity Master Fund, LP and P Consonance Opportunities Ltd.
Material Changes
The material change reported is the execution of a Securities Purchase Agreement to raise capital. The filing does not provide comparative financial data against prior periods as it is a transactional report rather than a periodic earnings report.
Outlook, Risks, and Unusual Items
Closing Conditions: The closing of the offering is expected on or about May 28, 2020, subject to the satisfaction of customary closing conditions.
Registration: The offering is made pursuant to a shelf registration statement on Form S-3 (File No. 333-237194) declared effective by the SEC on April 13, 2020.
Net Proceeds: The $15 million figure represents gross proceeds; net proceeds will be lower after deducting offering expenses, though specific expense amounts are not detailed in this summary text.
Investor Verification Checklist
- Verify the final closing date of the offering (expected May 28, 2020).
- Review the full Securities Purchase Agreement (Exhibit 10.1) for specific terms, covenants, and expense allocations.
- Confirm the actual number of shares issued and final net proceeds upon closing.
- Check for any subsequent filings regarding the use of proceeds or changes in the offering structure.