Business Context and Reporting Period
This Form 8-K Current Report was filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on July 24, 2023. The registrant is a Delaware corporation with its principal executive offices in Fort Mill, SC, and its common stock trades on the NYSE American under the symbol RMED. The company is classified as an emerging growth company.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The report focuses exclusively on a specific corporate action regarding equity securities.
Material Changes
The material event reported is the unregistered sale of equity securities under Item 3.02. On July 24, 2023, the Company issued 546,776 shares of common stock. This issuance resulted from the conversion of 875 shares of outstanding Series A Convertible Preferred Stock. The conversion ratio was approximately 625 common shares for each preferred share.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The transaction was executed pursuant to the exemption under Section 3(a)(9) of the Securities Act of 1933, as it involved an exchange with existing security holders without the payment of commissions. The newly issued shares have been registered for resale on an effective Form S-3.
Investor Verification Checklist
- Verify the correct registrant name is Ra Medical Systems, Inc. (RMED), not Catheter Precision, Inc.
- Confirm the issuance of 546,776 common shares from the conversion of 875 Series A Preferred shares.
- Check the effective Form S-3 registration statement for resale of the newly issued shares.
- Review the Company's latest 10-K or 10-Q for actual financial performance metrics, as this 8-K does not provide them.