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EP MedSystems

This article was originally published in The Gray Sheet

Executive Summary

Cardiac electrophysiology products company's $3.25 mil. equity financing agreement is led by Cardiac Capital, which is 50% owned by EP MedSystems Chairman and CEO David Jenkins. Cardiac Capital will receive 1.5 mil. shares of common stock and warrants for 750,000 additional shares exercisable at $4, out of a total 1.63 mil. shares and 812,500 warrants. Jenkins has agreed not to sell any previously owned shares for one year after the deal closes. Proceeds will be used to expand the Mt. Arlington, New Jersey firm's sales, marketing and manufacturing capabilities. FDA has granted EP MedSystems' ALERT catheter expedited PMA review for treatment of atrial fibrillation

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