A Medical Device Daily
Stereotaxis (St. Louis) said that the underwriters for the recently reported public offering of Stereotaxis common stock have exercised in full their over-allotment option to purchase an additional 975,000 shares of the company's common stock. The 7,475,000 shares of Stereotaxis common stock in the offering, including the 975,000 shares subject to the over-allotment option, are being sold at a price to the public of $4 a share.
All of the shares in the offering are being offered by Stereotaxis. The offering, including the offering of the over-allotment shares, is expected to close on Thursday.
Deutsche Bank Securities and Oppenheimer & Co. are operating as joint booking-running managers for the offering.
Stereotaxis makes an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias.
The Stereotaxis system is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites.
This is achieved using computer-controlled, externally applied magnetic fields that govern the motion of the working tip of the catheter or guidewire, resulting in improved navigation, shorter procedure time and reduced X-ray exposure. The core components of the system have received regulatory clearance in the U.S., Europe, and Canada and elsewhere, the company noted.