Catheter Precision raises $2.18M in private placement, acquires 19.98% stake in FLYTE for $5.25M

Catheter Precision, Inc.

• Initial closing of private placement yields $2.18M; additional closings could raise up to ~$44.6M total.
• Issues Series C-1 convertible preferred at $1.43/share; conversion price can reset to 80% of market price after stockholder approval.
• Acquires 19.98% of Fly Flyte, Inc. (air-mobility) for $5.25M in Series D convertible preferred, contingent on stockholder approval.
• Existing Series B preferred and warrants repriced to $1.78, generating $400k cash from warrant exercises.
• Proceeds to repay debt, wind down legacy catheter business, and explore going-private or spin-off transactions.