x
Breaking News
More () »

St. Louis Breaking News, Weather, Traffic, Sports | KSDK.com

St. Louis-based surgical instrument maker raises $15M

"This financing is particularly meaningful during this period of uncertainty and disruption"
Credit: SLBJ
David Fischel, chairman and CEO of Stereotaxis

ST. LOUIS — St. Louis-based surgical instrument maker Stereotaxis said Tuesday it has entered into a securities purchase agreement with a healthcare investment firm for a $15 million common stock financing.

Stereotaxis, which develops robotic technologies designed for the treatment of arrhythmias and to perform endovascular procedures, reached the agreement with funds of New York-based Consonance Capital. The financing includes 3.66 million shares of registered common stock, which is priced at $4.10 per share.

“We are excited to have Consonance Capital join us in our mission to improve patient care and positively transform interventional medicine with robotics,” said David Fischel, chairman and CEO of Stereotaxis. “This financing is particularly meaningful during this period of uncertainty and disruption, and strengthens our commitment to significant innovation and support of our customers.”

Stereotaxis (NYSE: STXS) said in a regulatory filing that it will use the financing for working capital, sales and marketing efforts, research and development and general expenses.

The purchase agreement announced Tuesday follows a $25 million private placement equity financing completed in 2019 by Stereotaxis. That financing was led by San Francisco-based health care investor Redmile Group, with Opaleye Management and Parkman Healthcare Partners also participating.

Click here for the full story.

More from the Business Journal