WALTHAM, Mass.--(BUSINESS WIRE)--Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, today announced the execution of an additional closing of the private placement previously announced on February 26, 2019. In the additional closing, existing investors with preemptive rights purchased an aggregate of 3,512,124 shares of the Company’s common stock on the same terms and at the same price of $1.3796 per share as the initial closing through the exercise of such preemptive rights and the purchase of certain additional shares. The additional closing resulted in gross proceeds to the Company of approximately $4.8 million and, together with the initial closing, aggregate net proceeds of approximately $19.5 million. The Company intends to use the proceeds for general corporate purposes.
Participating investors included significant existing stockholders, Hudson Executive Capital and BioStar Ventures, a strategic venture capital partnership, including key interventional physicians focused on accelerating value creation for transformational medical device technologies.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state and other jurisdiction.
The securities offered and sold by Corindus in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements. Corindus has agreed to file a registration statement with the SEC covering the resale of the shares of common stock sold in the private placement within 90 days of the closing of the private placement. Any resale of Corindus’ securities under such resale registration statement will be made only by means of a prospectus.
About Corindus Vascular Robotics, Inc.
Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The Company’s CorPath® platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. CorPath GRX is the second-generation robotic-assisted technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. We are focused on developing innovative robotic solutions to revolutionize treatment of emergent conditions by providing specialized and timely medical care to patients around the world. For additional information, visit www.corindus.com, and follow @CorindusInc.
