Business
PAVmed Announces Pricing of Additional $8.1 Million Common Stock Registered Direct Offering
NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multi-product,
About this update from Pavmed Inc.
[{"type":"text","content":"NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a highly differentiated, multi-product, commercial-stage medical device company, today announced it has entered into agreements for the sale of approximately 5.1 million shares of common stock in a registered direct offering with predominantly existing institutional investors at a price of $1.60 per share for gross proceeds of $8.1 million. The estimated net proceeds to PAVmed from the registered direct offering are expected to be approximately $7.4 million after deducting the placement agents’ fees and other estimated offering expenses. The offering is expected to close on or about December 22, 2020 subject to the satisfaction of customary closing conditions. Maxim Group LLC is acting as the lead placement agent and Lake Street Capital Markets LLC is acting as co-placement agent in connection with the offering. The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-248709) declared effective by the Securities and Exchange Commission on September 17, 2020. A prospectus supplement relating to the offering is being filed with the Securities and Exchange Commission. Copies of the prospectus supplement relating to the offering, together with the accompanying base prospectus included in the registration statement, may be obtained from the Securities and Exchange Commission at www.sec.gov, or from the Company at One Grand Central Place, Suite 4600, New York, New York 10165, Telephone (212) 949-4319. Electronic copies of the prospectus supplement and accompanying base prospectus may also be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 jurisdiction. About PAVmed PAVmed Inc. is a highly differentiated, multi-product, commercial-stage medical device company employing a unique business model designed to advance innovative products to commercialization rapidly and with less capital than the t...