RMED - Ra Medical Systems approves a 1-for-50 reverse stock split

• Ra Medical Systems ( NYSE: RMED ) on Tuesday said its shareholders had approved all three proposals at a special meeting, including a 1-for-50 reverse stock split.
• Shares of the micro-cap company jumped 14.2% to $0.16 after hours.
• The company said its stock was expected to begin trading on a split-adjusted basis at the start of trading on Oct. 3.
• The other two proposals that were approved at the special meeting were regarding a warrant exercise and an adjournment if necessary.
• RMED also plans to file a proxy in the coming weeks for another special meeting to allow its shareholders to vote on its proposed merger with medical device company Catheter Precision.
• The company announced the deal last week, sending its shares up more than 15% .

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