Newspaper article St Louis Post-Dispatch (MO)

Stereotaxis Announces New Investors, Board Members

Newspaper article St Louis Post-Dispatch (MO)

Stereotaxis Announces New Investors, Board Members

Article excerpt

After being delisted from the Nasdaq Stock Market in August, Stereotaxis said Tuesday that it had made strategic changes that include securing a large equity investment and making key board appointments.

The moves "should provide us with the opportunity to achieve profitability," Stereotaxis CEO William C. Mills said in a statement.

The St. Louis-based company that makes computerized systems to treat heart arrhythmias said it secured a $24 million equity investment from numerous investors, led by California-based DAFNA Capital Management LLC and Joe Kiani, CEO and chairman of medical device company Masimo.

In exchange for the $24 million, the investors will receive convertible preferred stock with a conversion price of 65 cents, or a 10 percent premium based on Monday's closing share price, according to the company statement. …

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