We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Ra Medical Systems, Inc. (“Ra Medical” or the “Company”) (NYSE: RMED) in connection with the proposed merger of the Company with Catheter Precision, Inc. (“Catheter Precision”). The Merger is structured as a stock for stock reverse merger whereby all of Catheter Precision’s outstanding convertible promissory notes and equity interests are to be exchanged for shares of Ra Medical common stock and Catheter Precision options assumed by the Company. Upon completion of the transaction, Catheter Precision shareholders are expected to own approximately 80% of the combined company, and Ra Medical equity holders are expected to only own approximately 20% of the combined company.
Weiss Law is investigating whether (i) Ra Medical’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Ra Medical’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.