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Stereotaxis Closes $18.5 Million Private Placement Financings
Date:5/11/2012

ST. LOUIS, Mo., May 11, 2012 /PRNewswire/ -- Stereotaxis, Inc. (NASDAQ: STXS) today announced the Company has completed its previously announced private offering of common stock and private offering of unsecured, subordinated, convertible promissory debentures for gross proceeds of $18.5 million.  Stereotaxis plans to use a portion of the net proceeds from the common stock offering to repay $7 million of the revolving Silicon Valley Bank (SVB) credit facility guaranteed by Alafi Capital and Sanderling Venture Partners and the balance of the proceeds of that offering and of the debenture offering for working capital, and for general corporate purposes.

Upon the closing of the financing transactions, the Company also announced an amendment to its credit agreement with SVB to extend its revolving credit facility to March 31, 2013.  The revolving line of credit was decreased from $20 million to $13 million after pay down of $7 million of the guaranteed portion, but otherwise has similar terms and conditions to previous agreements with SVB. 

About Stereotaxis           

Stereotaxis is a healthcare technology and innovation leader in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab. With over 100 patents for use in a hospital's interventional surgical suite, Stereotaxis helps physicians around the world provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced collaboration of life-saving information. Stereotaxis' core technologies are the Niobe® ES Remote Magnetic Navigation system, the Odyssey™ portfolio of lab optimization, networking and patient inf
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