Corindus Vascular Robotics Announces Closing of Private Placement for $15 Million

WALTHAM, Mass.--(BUSINESS WIRE)--Corindus Vascular Robotics, Inc. (“Corindus” or the “Company”) (NYSE American:CVRS), a leading developer of precision vascular robotics, today announced the execution of a private placement transaction with a large institutional investor pursuant to which it will sell and issue an aggregate of 10,872,716 shares of its common stock, at a purchase price of $1.3796 per share, resulting in aggregate gross proceeds to the Company of approximately $15 million, which the Company expects to receive during the day. The net proceeds are expected to be approximately $14.8 million. The Company intends to use the proceeds for general corporate purposes.