Catheter Precision, Inc. (VTAK) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Catheter Precision, Inc. on January 7, 2026, covering events occurring on December 31, 2025. The Company, incorporated in Delaware and trading on the NYSE American under the symbol VTAK, reported the entry into material definitive agreements regarding its debt obligations.
Key Financial Metrics and Debt Obligations
The filing details amendments to outstanding 8% Short Term Promissory Notes. The total principal amount of the amended notes is $1,500,000. The filing does not provide current revenue, profit, cash flow, or liquidity metrics.
| Holder | Principal Amount | Original Maturity (Pre-Amendment) | New Maturity Date |
|---|---|---|---|
| David A. Jenkins | $500,000 | January 31, 2026 | January 31, 2029 |
| FatBoy Capital, L.P. | $150,000 | January 31, 2026 | January 31, 2029 |
| FatBoy Capital, L.P. | $250,000 | January 31, 2026 | January 31, 2029 |
| FatBoy Capital, L.P. | $100,000 | January 31, 2026 | January 31, 2029 |
| Jenkins Family Charitable Institute | $500,000 | January 31, 2026 | January 31, 2028 |
Material Changes and Related Party Transactions
The primary material change is the extension of the maturity dates for all listed notes from January 31, 2026, to either January 31, 2028, or January 31, 2029. These transactions involve significant related parties:
- David A. Jenkins: Executive Chair and CEO; managing member of FatBoy Capital, L.P.; and former Settlor/Trustee of the Jenkins Family Charitable Institute.
- FatBoy Capital, L.P.: Managed by Mr. Jenkins.
- Jenkins Family Charitable Institute: Current Trustee is Mr. Jenkins' adult daughter.
- Missiaen Huck: Mr. Jenkins' adult daughter and the Company's non-executive Chief Operating Officer.
Mr. Jenkins and his affiliates also hold stock options and rights to receive royalties equal to 11.77% of net sales of the Company's LockeT device.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the disclosure of related party transactions. The extension of debt maturities suggests a need to manage short-term liquidity obligations.
Key Facts for Investor Verification
- Verify the total outstanding debt load and interest expense impact of the 8% notes in the most recent 10-K or 10-Q.
- Confirm the Company's current cash position and ability to service the extended debt obligations through 2028 and 2029.
- Review the "Certain Relationships and Related Party Transactions" section of the June 9, 2025 proxy statement for full details on Mr. Jenkins' compensation and royalty arrangements.
- Assess the concentration of debt held by the CEO and his affiliates, which represents 100% of the notes amended in this filing.