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Cather Precision, Inc.'s (VTAK) Board Authorizes its CEO and Chairman to Make "Open Market" Purchases of Company Shares
2024-01-11 05:02 ET - News Release
FORT MILL, SC / ACCESSWIRE / January 11, 2024 / Catheter Precision, Inc. (the "Company") (NYSE American:VTAK), an innovative US-based medical device Company dedicated to improving the lives of patients with cardiac arrhythmias, announces that its CEO and Chairman, Mr. David Jenkins, [and/or one or more of his affiliated entities] has been authorized to purchase up to 500,000 shares of the Company's common stock in open market transactions across multiple trading days.
David Jenkins, CEO/Chairman of Cather Precision, Inc., and founder of the Catheter Precision business, states, "Committing additional capital shows that I fully believe in the Company and the team. Our development of groundbreaking technology for electrophysiology procedures to improve the treatment of cardiac arrhythmias continues aggressively forward. Our FDA-registered LockeT product is gaining early acceptance by hospitals and physicians, with patents pending or approved in the USA and other global markets. We also see continued global growth with our VIVO 3D mapping system. The future is strong for Cather Precision, Inc., and I'm excited for our future and expect that more of our innovations will meet necessary approvals and become marketable."
Although it is Mr. Jenkins' current intent to engage in open market purchase transactions from time to time, his decision as to whether to engage in a purchase at any given time will depend upon a number of factors, including the current trading price of Company common stock and Mr. Jenkins' other capital needs. There is no guarantee that all or a substantial portion of the shares authorized as described above will in fact be purchased, and Mr. Jenkins reserves the right to make private purchases or purchases directly from the Company, subject to compliance with rules of the NYSE American. All purchases by Mr. Jenkins will be made in compliance with all applicable laws, and all open market transactions will be conducted pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as amended. Before these proposed purchases, Mr. Jenkins and his affiliate entities invested greater than $30 million of his capital into the Company's predecessor, which was acquired by the Company in January 2023.
The Company continues to seek innovations and markets to improve the overall health of many with cardiac arrhythmias.
About Catheter Precision, Inc. (NYSE-American:VTAK)
Catheter Precision, Inc. (NYSE-American: VTAK) is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products. The Company produces and delivers electrophysiological products to provide patients, hospitals, and physicians with novel technologies and solutions to improve patients' lives with cardiac arrhythmias. With a world-class management team and partnerships with leading industry experts, Catheter Precision continues to reach new and essential milestones in electrophysiology. Reincorporated as Ra Medical Systems, Inc. in Delaware in 2018, the Company changed its name to Catheter Precision, Inc. on August 17, 2023. https://www.catheterprecision.com/.