Ra Medical Systems Announces Proposed Name and Ticker Symbol Changes
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Name change to Catheter Precision, Inc. expected to become effective on August 17, 2023, with trading under new ticker symbol VTAK expected to begin on August 18, 2023
FORT MILL, SC / ACCESSWIRE / July 31, 2023 / Ra Medical Systems, Inc. (NYSE American:RMED) today announced that its Board of Directors has approved changing the Company's corporate name to "Catheter Precision, Inc." The effective date of the name change is expected to be August 17, 2023. The Company has reserved the ticker symbol "VTAK" with the NYSE American, and the Company's common stock is expected to begin trading on the NYSE American under its new name and the new trading symbol effective as of the market open on August 18, 2023. The Company's new website will be unveiled shortly in conjunction with the name change. For now, investors can continue to visit www.ramed.com.
David Jenkins, interim CEO of RMED, commented, "The changing of our name signifies the nearing of the completion of our conversion to a company focused solely on cardiac electrophysiology, and away from our previous laser catheter business. We have shut down that previous business and no longer market any of those legacy products."
Jenkins continued, "VTAK is a symbol chosen because of its similarity to V-Tach, a shortened version of Ventricular Tachyarrhythmia, also known as VT. VT, a fast heartbeat of the ventricle, is a disease state which falls under the purview of our VIVO product, where we show, in a 3D computer model of the heart, the earliest electrical activation of the VT. The name VIVO itself is an anachronym for ‘View Into Ventricular Onset'."
About Ra Medical Systems
Ra Medical, through its wholly owned subsidiary Catheter Precision, 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" which include, but are not limited to, expectations regarding the timing of the Company's proposed name and ticker symbol changes. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The Company's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to, the following: the effectiveness of the Company's proposed name change is dependent upon the approval of the NYSE American and of the Secretary of State of Delaware, including its determination of whether to accept for filing our amendment to our certificate of incorporation effecting the name change; and the timing for trading to begin under the Company's new ticker symbol is dependent upon the actions of the NYSE American and the Cusip Bureau. As a result, the timing of the effectiveness of the Company's proposed name change and of trading under the new ticker symbol could differ materially from management's current expectations. Additional risks and uncertainties that could impact our business are included under the caption "Risk Factors" and elsewhere in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. These documents can be accessed on the Company's Investor Relations page at https://ir.ramed.com/ by clicking on the link titled "SEC Filings".
The forward-looking statements included in this communication are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
CONTACTS:
At the Company
David Jenkins
973-691-2000
mhuck@catheterprecision.com
SOURCE: Ra Medical Systems, Inc.
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