CORINDUS VASCULAR ROBOTICS, INC. (NYSEMKT:CVRS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry into a Material Definitive Agreement. |
On March 15, 2017, Corindus Vascular Robotics, Inc. (the Company)
closed a private placement consisting of the sale of 68,055,700
shares (the Shares) of the Companys common stock (the Common
Stock), at a price of $0.6616 per share, resulting in aggregate
gross proceeds to the Company of approximately $45,000,000 before
deducting offering expenses (the Private Placement). In
connection with the closing of the Private Placement, the Company
entered into a registration rights agreement (the Registration
Rights Agreement) with the participating investors, requiring the
Company to register the resale of the Shares. Under the
Registration Rights Agreement, the Company will be required to
prepare and file a registration statement with the Securities and
Exchange Commission within 45 days of the closing of the
Financing, and to use commercially reasonable efforts to have the
registration statement declared effective within 90 days if there
is no review by the Securities and Exchange Commission, and
within 120 days in the event of such review. The Registration
Rights Agreement also contains piggyback registration rights in
favor of the investors and customary indemnification provisions.
The above description of the material terms of the Registration
Rights Agreement is qualified in its entirety by reference to the
Registration Rights Agreement attached as Exhibit 10.42 to the
Companys Annual Report on Form 10-K filed on March 15, 2017.
| Item 8.01. | Other Events. |
On March 16, 2017, the Company issued a press release entitled
Corindus Vascular Robotics Announces Closing of Private Placement
for $45 Million, announcing the Private Placement. A copy of the
press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number | Description | |
| 10.1 |
Registration Rights Agreement, dated March 15, 2017, by and among the Company and the signatories thereto (incorporated by reference to Exhibit 10.42 of the Companys Annual Report on Form 10-K filed March 15, 2016 (File No. 001-37406)). |
|
| 99.1* |
Press Release of Corindus Vascular Robotics, Inc. dated March 16, 2017. |
|
| * Filed herewith | ||
About CORINDUS VASCULAR ROBOTICS, INC. (NYSEMKT:CVRS)
Corindus Vascular Robotics, Inc. designs, manufactures and sells precision vascular robotic-assisted systems for use in interventional vascular procedures (the CorPath System). The Company operates through the development, marketing and sales of robotic-assisted vascular interventions segment. The Company’s product, the CorPath 200 System, is a vascular robotic system, which is engaged in stent placement in percutaneous coronary intervention (PCI) procedures. The CorPath System enables the robotic-assisted control of coronary guidewires and balloon/stent devices from the safety of a radiation-protected, ergonomic interventional cockpit. The CorPath System consists of two components: a bedside unit and an interventional cockpit. At the bedside, the CorPath System’s robotic drive and sterile, single-use cassette (CorPath Cassette) translate the physician’s commands into movements and manipulations of the coronary stents and catheters. CORINDUS VASCULAR ROBOTICS, INC. (NYSEMKT:CVRS) Recent Trading Information
CORINDUS VASCULAR ROBOTICS, INC. (NYSEMKT:CVRS) closed its last trading session down -0.02 at 1.39 with 4,485,375 shares trading hands.
