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Catheter Precision, Inc. (NYSE:VTAK) announced Monday that it will implement a 1-for-19 reverse stock split of its common stock, effective at 12:01 a.m. Eastern Time on August 15, 2025. The announcement comes as the stock has declined nearly 87% over the past year, with current trading at $0.22. According to InvestingPro data, the company maintains strong gross profit margins of 90%, despite challenging market conditions. The company’s shares are expected to begin trading on a split-adjusted basis on the NYSE American exchange under the same VTAK ticker symbol but with a new CUSIP number, 74933X 708.
The decision follows approval at the company’s annual meeting of stockholders held Friday. At the meeting, shareholders authorized the board to select a reverse split ratio between 1-for-5 and 1-for-19. The board subsequently approved the 1-for-19 ratio and will file a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to effect the change.
As a result of the reverse stock split, every nineteen shares of pre-split common stock will automatically be combined into one share. The number of outstanding common shares will be reduced from approximately 23.3 million to about 1.2 million, excluding the effect of fractional shares. No fractional shares will be issued; instead, holders will receive cash in lieu of any fractional shares. The company’s authorized capital stock will remain at 60 million shares of common stock and 10 million shares of preferred stock.
Stockholders holding shares in uncertificated form or in brokerage accounts will not need to take any action for the exchange.
The reverse stock split is intended to help Catheter Precision meet the minimum bid price requirement for continued listing on the NYSE American exchange, according to a statement in the press release. The company’s financial metrics from InvestingPro show revenue growth of 9.57% in the last twelve months, though analysts do not expect profitability this year. The stock typically exhibits high volatility and often moves counter to broader market trends, with a beta of -0.24.
At the annual meeting, shareholders also approved the election of Martin Colombatto as a director, the issuance of shares related to warrants and preferred stock conversion, and the ratification of WithumSmith+Brown, PC as the company’s independent auditor for the fiscal year ending December 31, 2025.
This information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Catheter Precision, Inc. announced a significant development involving its financial arrangements. The company’s board approved the issuance of a stock purchase warrant to Ladenburg Thalmann & Co., Inc. as part of a recent financing deal. This warrant allows Ladenburg Thalmann to acquire 257,143 shares of Catheter Precision’s common stock at a price of $0.5424 per share, contingent upon stockholder approval at the upcoming annual meeting. Additionally, Catheter Precision reported an executive change with the departure of Chief Commercial Officer Marie-Claude Jacques. David Jenkins, the Executive Chairman and CEO, will temporarily take on the duties of Chief Commercial Officer until a successor is found. These changes were disclosed in a Form 8-K filing with the Securities and Exchange Commission.
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