Catheter Precision, Inc. entered into Series J Exchange Agreements with David A. Jenkins and FatBoy Capital, LP to convert royalty rights and accrued royalty amounts totaling a net present value of $9,489,487.81 into 9,489.488 shares of newly created Series J Convertible Preferred Stock. The transaction settles existing obligations and provides for potential future conversion into common stock, subject to stockholder approval.
Key takeaways
The company issued 9,489.488 shares of Series J Convertible Preferred Stock to settle royalty obligations with a net present value of $9,489,487.81.
David A. Jenkins received 2,491.293 shares and FatBoy Capital, LP received 6,998.195 shares of Series J Preferred Stock.
The Series J Preferred Stock has a stated value of $1,000 per share and is convertible into common stock at a fixed conversion price of $1.56 per share.
The 9,489.488 shares of Series J Preferred Stock are convertible into 6,083,005 shares of common stock, but only if stockholder approval is obtained.
The royalty rights and accrued royalty amounts were terminated as of December 31, 2025.
The closing price of the company's common stock on December 31, 2025, was $1.56 per share, equal to the conversion price.