Acutus Medical, Inc. just filed a prospectus, suggesting it plans to soon issue some securities

Acutus Medical, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:

USE OF PROCEEDS

We estimate that the net proceeds from the sale of our common stock in this offering will be approximately $71.9 million (or
approximately $82.7 million if the underwriters exercise their option to purchase additional shares in full) based on the public offering price of $14.00 per share of common stock, after deducting the underwriting discounts and commissions and
estimated offering expenses payable by us.

We currently intend t o use the net proceeds from this offering as follows:
approximately $30 to $35 million to support our commercial expansion, including hiring additional commercial personnel, approximately $20 to $25 million for our research and development activities, and the remainder, if any, for general corporate
purposes.

Based on our current business plans, we believe that the net proceeds of this offering, together with our
existing cash, cash equivalents and marketable securities and expected revenue from sales of our products, will be adequate to support our commercialization, clinical trials and research and development activities for at least the next
12 months.

We believe opportunities may exist from time to time to expand our current business through license or
acquisitions of, or investments in, complementary businesses, products or technologies. While we have no current agreements, commitments or understandings for any specific licenses, acquisitions or investments at this time, we may use a portion of
the net proceeds for these purposes.

Our management will have broad discretion over the use of the net proceeds from this
offering. The amounts and timing of our expenditures will depend upon numerous factors, including cash flows from operations, the extent and success of our commercial expansion, the extent and results of our research and development efforts, the
timing and success of our studies and clinical trials, the timing and results of regulatory submissions, reimbursement and the anticipated growth of our business. Pending their uses, we plan to invest the net proceeds of this offering in short-term,
interest-bearing, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.

 

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The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or - June 24, 2022
Acutus Medical, Inc. director just disposed of 60,000 shares - June 3, 2022
Acutus Medical, Inc.'s Chief Financial Officer just picked up 100,000 shares - June 2, 2022

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