Stereotaxis, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Stereotaxis, Inc. on August 7, 2019. The filing serves to illustrate the Company's compliance with initial listing standards for a national exchange. It provides unaudited supplemental financial information as of June 30, 2019, reflecting both actual results and an "as adjusted" basis following a private placement of equity securities.
Key Financial Metrics
The filing details a Private Placement completed on August 7, 2019, involving the sale of:
- 6,585,000 shares of Common Stock at $2.05 per share.
- 5,610,121 shares of Series B Convertible Preferred Stock at $2.05 per share.
The transaction generated aggregate net proceeds of approximately $23.1 million after offering expenses. The filing includes a balance sheet summary (Exhibit 99.1) comparing cash and cash equivalents on an actual basis versus an as-adjusted basis to reflect these proceeds. The filing text does not provide specific values for revenue, profit, operating margins, or total debt levels.
Material Changes
The primary material change disclosed is the significant increase in liquidity resulting from the Private Placement. The "as adjusted" balance sheet reflects the infusion of approximately $23.1 million in cash, which was not present in the actual balance sheet as of June 30, 2019. No other material changes to operations or financial position are detailed in this specific report.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard regulatory disclaimers. The document explicitly states that the information is for informational purposes regarding listing standards and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, nor incorporated by reference in other filings.
Investor Verification Checklist
- Verify the final closing of the Private Placement and the exact net proceeds received.
- Review the full Unaudited Actual and As Adjusted Balance Sheet (Exhibit 99.1) for specific cash and liability figures.
- Confirm the terms of the Series B Convertible Preferred Stock, including conversion ratios and rights.
- Check subsequent filings for the Company's actual listing status on a national exchange.