Catheter Precision Divests Atherectomy Tech for $15,000 and 5% Equity Stake
Catheter Precision agreed to sell its atherectomy catheter technologies, including FDA approvals and patents, for $15,000 upfront, a 5% equity stake with anti-dilution protection up to $5M, and 10-year royalties. The divestiture sharpens focus on its electrophysiology platform as shares trade 21% below their 20-day SMA.
1. Strategic Divestiture Details
Catheter Precision agreed to sell its atherectomy catheter technologies, including FDA approvals and patents, to a strategic acquirer for $15,000 upfront cash, a 5% equity stake with anti-dilution protection up to $5M, and ten-year royalty payments to enhance capital efficiency and accelerate its electrophysiology platform.
2. Market Reaction and Technical Indicators
The stock is trading 21.1% below its 20-day simple moving average and 31.7% below its 100-day SMA, with shares down 5.05% to $1.61, 75.82% lower year-over-year and near a 52-week low of $1.13, reflecting bearish momentum signaled by a neutral RSI of 44.39 and a MACD below its signal line.