Stereotaxis Rights Offering Expires November 21, 2013
ST. LOUIS, Nov. 20, 2013 (GLOBE NEWSWIRE) -- As a reminder to certain
stockholders and warrant holders of Stereotaxis, Inc. (Nasdaq:STXS), as well
as holders of separately purchased subscription rights, the current rights
offering is scheduled to terminate this Thursday, November 21, 2013, at 5:00
pm New York City time.
All payments and documentation required to exercise rights must be received by
Broadridge Corporate Issuer Solutions, Inc. (the "Rights Agent") by the
termination time, and those rights holders wishing to exercise their rights
may need to contact their broker, dealer, customer, bank or other nominee in
order to properly exercise their rights. Accordingly, rights holders with any
questions regarding exercising their rights should contact the Rights Agent by
telephone at (855) 300-4994.
As previously announced, all stockholders and certain warrant holders of
Stereotaxis, Inc. as of the record date of October 31, 2013 at 5:00 pm New
York City time, received subscription rights. For those interested in
purchasing the subscription rights, these rights can be purchased on the
NASDAQ Capital Market under the symbol "STXSR," and will continue to be listed
until the expiration of the rights offering.
For stockholders and certain warrant holders that received subscription rights
in connection with the rights offering, 1 subscription right was received for
every 1 share held. 1 subscription right allows the purchase of 1/3 a share of
common stock at a price of $3.00 per share. As an example, if an investor
owned 200 shares of common stock on the record date, the investor would have
received 200 subscription rights. The 200 rights would allow for the purchase
of 66 shares of commons stock for $3.00 per share (a total of $198 = 3 x 66).
As stated above, if holders of subscription rights elect to exercise any
rights, the Rights Agent must receive all required documents and payments from
the holder prior to the expiration of the rights offering. If the holder's
required subscription exercise documentation is received by the Rights Agent
after the expiration of the rights offering, Stereotaxis may, in its sole
discretion, choose to accept the holder's subscription but will be under no
obligation to do so.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy nor will there be any sale of any securities referred to in
this press release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such state or jurisdiction. A registration
statement relating to the rights was filed with the Securities and Exchange
Commission and was declared effective on October 29, 2013.The rights offering
is being made only by means of a prospectus filed by the Company with the
Securities and Exchange Commission on October 29, 2013.The prospectus is
maintained on the Securities and Exchange Commission's website at www.sec.gov
and contains information pertinent to the rights offering.A copy of the
prospectus, or further information with respect to the rights offering, may be
obtained by calling the rights agent, Broadridge Corporate Issuer Solutions,
Inc., at (855) 300-4994.Stockholders who hold their shares through a broker,
must provide instructions to their broker regarding their intentions with
respect to their rights.
Stereotaxis is a healthcare technology and innovation leader in the
development of robotic cardiology instrument navigation systems designed to
enhance the treatment of arrhythmias and coronary disease, as well as
information management solutions for the interventional lab. With over 100
patents for use in a hospital's interventional surgical suite, Stereotaxis
helps physicians around the world provide unsurpassed patient care with
robotic precision and safety, improved lab efficiency and productivity, and
enhanced collaboration of life-saving information. Stereotaxis' core Epoch™
Solution includes the Niobe® ES Remote Magnetic Navigation system, the
Odyssey® portfolio of lab optimization, networking and patient information
management systems and the Vdrive™ Robotic Mechanical Navigation system and
The core components of Stereotaxis systems have received regulatory clearance
in the U.S., Europe, Canada and elsewhere. The V-Sono™ ICE catheter
manipulator has received U.S. clearance, and the V-Loop™ circular catheter
manipulator is currently in clinical trials in order to obtain clearance by
the U.S. Food and Drug Administration. For more information, please visit
This press release includes statements that may constitute "forward-looking"
statements, usually containing the words "believe," "estimate," "project,"
"expect" or similar expressions. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or contribute to
such differences include, but are not limited to, the Company's ability to
raise additional capital or otherwise address ongoing liquidity challenges on
a timely basis and on terms that are acceptable, its ability to continue to
manage expenses and cash burn rate at sustainable levels, its ability to
continue to work with lenders to extend, repay or refinance indebtedness on
acceptable terms or at all, continued acceptance of the Company's products in
the marketplace, the effect of global economic conditions on the ability and
willingness of customers to purchase its systems and the timing of such
purchases, the outcome of various shareholder litigation filed against
Stereotaxis, competitive factors, changes resulting from the recently enacted
healthcare reform in the U.S., including changes in government reimbursement
procedures, dependence upon third-party vendors, timing of regulatory
approvals, and other risks discussed in the Company's periodic and other
filings with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to update
these statements for revisions or changes after the date of this release.
There can be no assurance that the Company will recognize revenue related to
its purchase orders and other commitments in any particular period or at all
because some of these purchase orders and other commitments are subject to
contingencies that are outside of the Company's control. In addition, these
orders and commitments may be revised, modified, delayed or canceled, either
by their express terms, as a result of negotiations, or by overall project
changes or delays.
CONTACT: Company Contact:
Chief Financial Officer
Todd Kehrli / Jim Byers
MKR Group, Inc.
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