ST. LOUIS, Oct. 29, 2013 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (Nasdaq:STXS) announced today that it has fixed 5:00 p.m. New York City time on October 31, 2013 as the record date for determination of stockholders (and eligible warrant holders) entitled to participate in its previously-announced rights offering. Upon commencement of the rights offering, Stereotaxis will distribute, at no charge to the holders of record of its common stock (and of certain of its warrants), as of the record date referenced above, subscription rights for each share of common stock (or warrant, as applicable) owned on the record date. Each subscription right will entitle the holder to purchase one-third of a share of common stock, at a price of $3.00 per share.
The subscription rights will be exercisable until 5:00 p.m. New York City time, on November 21, 2013. Stereotaxis may, subject to certain limitations, extend the rights offering, but does not currently intend to do so. Any fractional rights remaining after aggregating all of the subscription rights issued to shareholders and participating warrant holders will be rounded down to the nearest whole number, and no shareholder or participating warrant holder will receive any shares with respect to fractional rights that are rounded down.
The rights will be listed on the NASDAQ Capital Market under the symbol "STXSR," commencing on or about Friday, November 1, 2013 and continuing through the expiration of the rights offering. The ex-rights date for the rights offering is pending and will be announced once it is established by NASDAQ. The ex-rights date is the date on which Stereotaxis's common stock will begin to trade without the subscription rights and the rights will trade separately from the common stock. As a result, shareholders who sell their shares prior to the ex-rights date will also be selling their subscription rights.