Stereotaxis Inc. (NASDAQ:STXS) shares decline by 46.84%


Dallas, Texas 08/09/2013 (Financialstrend) – In the recently reported second quarter results for the fiscal year 2013, Stereotaxis Inc. (NASDAQ:STXS) had reported loss of $0.37 per basic and diluted share, which in effect proved to be better than the analyst estimates at loss of $0.59 per share. The revenue generation for the quarter was reported to be at $9.7 million compared to the consensus estimates of analysts at $10.8 million. It had further been updated by the company that investors who hold the entire convertible subordinated notes of the company had exercised their warrants to purchase the common stock of the firm.

This transaction involved the purchase of around 2.5 million shares of the common stock which was exercised for cash at a price of $3.361 per share and had thereby converted a portion of their subordinated notes into common stock of Stereotaxis Inc. (NASDAQ:STXS). In line with these transactions, the company would further issue an additional 5.2 million shares of common stock and would thereby receive the net proceeds at an aggregate value of $8.475 million. Further, convertible subordinated notes of an aggregate value of $8.1 million had also been retired by the company.

Shares of Stereotaxis Inc. (NASDAQ:STXS) had moved on to present decrease in prices of 46.84% on Thursday and had closed at $4.62 per share for the trading session. The stock had been moving throughout the day with price fluctuations in the range of $4.60 to $5.64 per share. The company’s shares presently have recorded 52 week low price at $1.01 per share and 52 week high price at $10.85 per share. On Thursday, the trading volume for the company had been reported to be at 13.45 million shares and average level of trading on this stock is at 2.41 million shares per day.

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