SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 22, 1998
THE SPECTRANETICS CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 000-19711 84-0997049
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
96 Talamine Court, Colorado Springs, CO 80907
(Address of Principal Executive Offices) (Zip Code)
(719) 633-8333
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On December 22, 1998, The Spectranetics Corporation ("Spectranetics")
entered into agreements with investors to raise $7,600,000 in a private
placement of 3,800,000 shares of its Common Stock, par value $.001 per share. A
copy of Spectranetics' press release dated December 30, 1998 is attached hereto
as Exhibit 99.1 and the information contained therein is incorporated by
reference herein in its entirety.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) The following exhibit is filed as part of this Report:
99.1 Press Release of Spectranetics dated December 30, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE SPECTRANETICS CORPORATION
(Registrant)
By: /s/ James P. McCluskey
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James P. McCluskey
Vice President, Finance and
Chief Financial Officer
Dated: December 30, 1998
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EXHIBIT INDEX
Exhibit
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99.1 Press Release of Spectranetics dated December 30, 1998.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
[LETTERHEAD - SPECTRANETICS]
December 30, 1998
Contact:
James P. McCluskey
Vice President-Finance
(800) 633-0960
SPECTRANETICS ENTERS INTO AGREEMENTS FOR $7.6-MILLION
IN PRIVATE PLACEMENT
Colorado Springs, Colo. - Dec. 30, 1998 -The Spectranetics Corporation
(NASDAQ:SPNC) announced today that it has entered into agreements with investors
to raise $7.6-million in a private placement of 3.8-million shares of common
stock.
The Company is not accepting additional subscriptions. Proceeds from the
private placement will be used to fund the Company's continued investment in
sales and marketing programs, clinical trials, working capital, and for general
corporate purposes. The financing is expected to close, subject to certain
conditions, in the first quarter of 1999. The shares to be issued by the Company
in the private placement have not been registered under the Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.
The Spectranetics Corporation develops, manufactures, markets and
distributes technology for interventional cardiovascular therapy. The Company's
CVX-300(R) excimer laser system is the only excimer laser system approved by the
FDA for cardiovascular procedures. The technology has been designed for use in
multiple cardiovascular applications, including coronary angioplasty and the
removal of pacemaker and ICD leads. The Company is also developing additional
applications for its excimer laser technology in restenosed stents, and
peripheral vascular applications.
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Note: Spectranetics and CVX-300 are registered trademarks of The
Spectranetics Corporation.
The above information regarding the future potential of the company is
forward-looking and actual results may differ materially from the results that
Spectranetics currently anticipates. The specific factors and events that could
cause the actual results to differ materially from the expected results include
the inability to effectively market and sell our products. Actual results may
also be affected by, among other things, risks and uncertainties related to new
product development cycles, research and development activities, regulatory
approvals of new products, new product introductions and market acceptance of
new products, introduction of competitive products by others, third-party
reimbursement, physician training, and other factors including those set forth
from time to time in the Company's Securities and Exchange Commission filings,
including the Company's Form 10-K for the year ended December 31, 1997 and Form
10-Qs filed quarterly in 1998.
END
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