Corindus Vascular Robotics, Inc. Closes Private Placement for $26.6 Million

WALTHAM, MA – Corindus Vascular Robotics, Inc., a leading developer of precision vascular robotics (“Corindus” or the “Company”), announced today that it entered into a Securities Purchase Agreement pursuant to which the Company will issue and sell to certain accredited investors an aggregate of 10,666,570 shares of the Company’s Common Stock in a private placement at a purchase price of $2.50 per share, resulting in aggregate gross proceeds to the Company of approximately $26.6 million. The Company has agreed to file a registration statement covering the resale of all shares issued in the private placement.

Cowen and Company, LLC (“Cowen”) and Stifel, Nicolaus & Company, Incorporated (“Stifel”) acted as placement agents for the transaction.

The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the U.S. absent registration or an applicable exemption.

David M. Handler, CEO, Corindus Vascular Robotics, Inc., stated, “This funding will enable expansion of our sales team and product commercialization, and continued investment in product innovation. We are also committed to advocating for interventional cardiologists by focusing on the key issues and concerns that impact them in the cath lab, such as the importance of precision in performing coronary angioplasties and protection from occupational hazards such as radiation exposure to both physicians and their patients.”

Source: Corindus Vascular Robotics, Inc.