SCHEDULE 13D/A: Major Shareholder Increases Stake in Catheter Precision, Details Warrant Transactions

Casey A. Jenkins and the Jenkins Family Charitable Institute have updated their beneficial ownership in Catheter Precision, Inc., increasing their aggregate stake to 9.9% and detailing recent warrant transactions and transfers.

Summary

• Casey A. Jenkins and the Jenkins Family Charitable Institute collectively beneficially own 832,243 shares of Catheter Precision, Inc. common stock, representing 9.9% of the outstanding shares as of December 31, 2024.
• The Jenkins Family Charitable Institute invested approximately $500,000 in an underwritten public offering that closed on September 3, 2024, acquiring 265,000 common stock units and 235,000 pre-funded units.
• Each unit in the public offering included common stock or pre-funded warrants, along with Series H, I, and J Warrants, initially subject to a 9.99% beneficial ownership blocker.
• On October 29, 2024, Catheter Precision, Inc. waived the beneficial ownership blocker for the Pre-Funded Warrants, allowing the Institute to exercise all 235,000 Pre-Funded Warrants for an aggregate purchase price of $23.50.
• On December 31, 2024, the Jenkins Family Charitable Institute transferred an aggregate of 450,000 Series J Warrants to its trustee, Casey A. Jenkins (who received 150,000), and certain donor advisors as compensation for prior services.
• The acquisitions were made for investment purposes, and the reporting persons have no present intent to pursue extraordinary corporate transactions, changes in the board or management, material changes in capitalization or dividend policy, or other significant alterations to the company's business or corporate structure.

Sentiment

Score: 6

Explanation: The document indicates a significant investment by a charitable institute and its trustee, suggesting confidence in the company. The waiver of beneficial ownership blockers for pre-funded warrants is a positive sign for the investor. However, the document is purely an ownership disclosure and does not contain operational or financial performance details to assess overall company sentiment beyond this specific investment.

Positives

• A significant investment of approximately $500,000 by the Jenkins Family Charitable Institute and its trustee indicates confidence in Catheter Precision, Inc.
• The company's waiver of the beneficial ownership blocker on Pre-Funded Warrants facilitated the exercise of 235,000 warrants, allowing the investor to increase their direct common stock holdings.

Risks

• Certain warrants (Series H, I, and J) held by the Jenkins Family Charitable Institute, totaling 873,866 shares, are currently not exercisable due to beneficial ownership blockers, limiting the investor's immediate ability to convert these holdings.
• Series X Preferred Stock held by both reporting persons, convertible into approximately 28,094 common shares, is not currently convertible due to unfulfilled conditions.

Future Outlook

The reporting persons state that their acquisitions are for investment purposes and they have no present intent to take actions that would result in extraordinary corporate transactions, changes in the board or management, material changes in capitalization or dividend policy, or other significant alterations to the company's business or corporate structure. They may, however, engage in additional open market purchases or sales, or estate planning transactions, from time to time.

Management Comments

• "All acquisitions described in Item 3 above and Item 5 below were for investment purposes."
• "The reporting persons may make additional open market purchases or sales or engage in estate planning or other transactions in Company common stock, from time to time."
• "The transfers of the Series J Warrants describe in Item 3 above were made as compensation for prior services provided."
• "The reporting persons have no present intent to take any action that would result in: (a) the acquisition by any person of additional securities of the Company or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any subsidiary thereof; (c) a sale or transfer of a material amount of assets of the Company or any subsidiary thereof; (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Company's business or corporate structure; (g) any changes in the Company's charter, bylaws, or instruments corresponding thereto, or other actions which may impede the acquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j) any action similar to any of those enumerated above."

Industry Context

This Schedule 13D filing primarily details changes in beneficial ownership by a significant investor and does not provide broader industry context or trends for Catheter Precision, Inc. It focuses on the specific investment activities and intentions of the reporting persons.

Comparison to Industry Standards

• This document is an ownership disclosure (Schedule 13D) and does not contain operational or financial performance metrics that would allow for a direct comparison to industry standards or specific comparable companies/projects.

Related Party Transactions

• The Jenkins Family Charitable Institute transferred 450,000 Series J Warrants to its trustee, Casey A. Jenkins (who received 150,000), and certain donor advisors as compensation for prior services.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant shareholder's stake and intentions, which can influence market perception. The public offering provided capital to the company, potentially leading to dilution but also funding operations.
• Employees: The transfer of warrants as compensation to the trustee and donor advisors could be seen as a form of incentive or recognition for services.

Next Steps

• Reporting persons may make additional open market purchases or sales of Company common stock.
• Reporting persons may engage in estate planning or other transactions in Company common stock.

Key Dates

Keywords

Catheter Precision Inc., SEC Filing, Schedule 13D, Beneficial Ownership, Casey A. Jenkins, Jenkins Family Charitable Institute, Common Stock, Warrants, Public Offering, Investment, Shareholder Stake, Corporate Governance, SEC Disclosure