Ra Medical Systems Announces Closing of $10.0 Million Public Offering

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Ra Medical Systems, Inc. (Ra Medical) (NYSE: RMED), a commercial-stage medical device company leveraging its advanced excimer laser-based platform for use in the treatment of vascular and dermatological immune-mediated inflammatory diseases, today announced that it has closed the previously announced public offering of an aggregate of 22,222,222 shares of common stock (or common stock equivalents), together with accompanying warrants to purchase up to an aggregate of 22,222,222 shares of common stock, at a public offering price of $0.45 per share and accompanying warrant. Each share of common stock (or common stock equivalent) was sold in the offering with one warrant to purchase one share of common stock. The warrants have an exercise price of $0.45 per share, are immediately exercisable, and expire five years following the date of issuance.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds of the offering were approximately $10.0 million, prior to deducting placement agents fees and other estimated offering expenses payable by Ra Medical and assuming none of the warrants issued in the offering are exercised for cash.

Ra Medical intends to use the net proceeds from the offering for general corporate purposes, including working capital, Ra Medicals atherectomy indication trial, engineering efforts and supporting Ra Medicals commercial relaunch strategy.

The securities described above were offered by Ra Medical pursuant to a registration statement on Form S-1 (File No. 333-237701) previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC) on May 20, 2020. The offering was made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus relating to the offering may be obtained for free by visiting the SECs website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at [email protected] or by telephone at 646-975-6996.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Ra Medicals future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as may, will, should, expects, plans, anticipates, could, intends, target, projects, contemplates, believes, estimates, predicts, potential or continue or the negative of these words or other similar terms or expressions that concern Ra Medicals future expectations, strategy, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the potential use of proceeds from the offering. The forward-looking statements included in this press release are subject to a number of material risks and uncertainties, including but not limited to risks and uncertainties associated with market conditions, and the risks described under the heading Risk Factors in Ra Medicals Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Report on Form 10-Q for the three months ended March 31, 2020, and other filings with the SEC. The forward-looking statements in this press release are based on information available to Ra Medical as of the date hereof, and Ra Medical disclaims any obligation to update any forward-looking statements, except as required by law.

At the Company:

Jeffrey Kraws

President, Ra Medical Systems


[email protected]

Investors and Media:

LHA Investor Relations

Jody Cain


[email protected]