Key Developments For Stereotaxis, Inc.
Stereotaxis, Inc. (STXS.O) (Consolidated Issue listed on NASDAQ Global Market)
Stereotaxis, Inc. Reiterates FY 2009 Revenue Guidance
Stereotaxis, Inc. reiterated its fiscal 2009 guidance of total revenue to exceed that of fiscal 2008. According to Reuters Estimates, analysts are expecting the Company to report revenue of $52.98 million for fiscal 2009.
Stereotaxis, Inc. Announces Underwriters' Exercise Of Over-Allotment Option
Stereotaxis, Inc. announced that the underwriters for the recently announced 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 $4.00 per 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 October 15, 2009. Deutsche Bank Securities Inc. and Oppenheimer & Co. Inc. are operating as joint booking-running managers for the offering.
Stereotaxis, Inc. Announces Pricing of $26 Million Common Stock Offering
Stereotaxis, Inc. announced that it had priced the public offering of 6,500,000 shares of its common at a price to the public of $4.00 per share. Stereotaxis has granted the underwriters of the offering an option to purchase up to an additional 975,000 shares of common stock to cover over-allotments, if any. All of the shares in the offering are being offered by Stereotaxis. Stereotaxis expects the offering to close on October 15, 2009. Deutsche Bank Securities Inc. and Oppenheimer & Co. Inc. are operating as joint booking-running managers for the offering.
Stereotaxis, Inc. Announces Public Offering Of Common Stock
Stereotaxis, Inc. announced that it intends, subject to market and other conditions, to offer up to $25 million of its common stock in a registered public offering pursuant to its existing shelf registration statement under the Securities Act of 1933. The Company also intends to grant the underwriters of the offering an option to purchase additional shares of common stock to cover over-allotments, if any. The Company plans to use the proceeds from the offering for sales, marketing, and clinical support initiatives, working capital, continued research and development, and general corporate purposes. Deutsche Bank Securities Inc. and Oppenheimer & Co. Inc. are operating as joint booking-running managers for the offering.
Stereotaxis, Inc. Receives Commitment To Increase And Extend Credit Facility
Stereotaxis, Inc. announced that it has received a commitment letter from Silicon Valley Bank, a member company of SVB Financial Group to increase and extend its credit facility. Under the terms set forth in the commitment letter, the Company could borrow up to $30 million, compared with $25 million under its current facility. Consistent with the current agreement, the revolving line of credit would include a sublimit of $10 million for advances guaranteed by two current shareholders. The facility would be extended for another year and would mature on March 31, 2011. In addition, Stereotaxis also reported that it is in discussions with the shareholder guarantors regarding the final terms of a proposed extension of their $10 million guaranty facility to March 31, 2011.
