SPECTRANETICS CORP
8-K, 1998-12-30
ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS
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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   -----------

                                    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)


<PAGE>


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.

                                       2

<PAGE>


                                   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
                                              -------------------------------
                                                  James P. McCluskey
                                                  Vice President, Finance and
                                                  Chief Financial Officer


Dated:   December 30, 1998

                                       3

<PAGE>


                                  EXHIBIT INDEX

Exhibit
- -------
 99.1     Press Release of Spectranetics dated December 30, 1998.

                                       4





                                                                    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.

                                       5

<PAGE>


     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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