Monday, September 12, 2022

Ra Medical Systems Plans Merger With Catheter Precision

Carlsbad-based Ra Medical Systems, which own intellectual property related to an advanced excimer laser-based platform for use in the treatment of vascular immune-mediated inflammatory diseases, says it is merging with Catheter Precision, a company focused on the field of cardiac electrophysiology. The companies said the merger is structured as a stock for stock reverse merger whereby all of Catheter Precision's outstanding convertible promissory notes and equity interests are to be exchanged for shares of Ra Medical common stock and Catheter Precision options assumed by the Company. After the deal closes, the two said that Catheter Precision stakeholders are expected to own approximately 80% of the combined company, and pre-merger Ra Medical equity holders are expected to own approximately 20% of the combined company.