On May 17, 2019, MRI Interventions, Inc. completed its previously announced private placement of common stock, pursuant to the terms of a Securities Purchase Agreement dated May 9, 2019, by and among the Company and certain investors. Effective as of the closing of the Financing Transaction and pursuant to the Purchase Agreement, the Board, with the recommendation of the Corporate Governance and Nominating Committee of the Board, appointed Marcio Souza, age 40, to serve as a director of the Company, until the 2019 annual meeting of stockholders and until his successor is duly elected and qualified or until his earlier death, resignation, disqualification or removal. In order to accommodate this appointment, the Board has increased the size of the Board from six members to seven members. Additionally, the Company has agreed to take any and all actions necessary to include Mr. Souza in the Company's slate of nominees for the election of directors at the Company's 2019 annual stockholders meeting. Mr. Souza has served as PTC's Chief Operating Officer since June 2017.