Business
PAVmed Subsidiary Veris Health Completes $2.5 Million Direct Equity Financing
PAVmed Inc. (Nasdaq: PAVM) ("PAVmed" or the "Company"), a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors, and its majority-owned subsidiary, Veris Health Inc. ("Veris"), today announced the completion of a private placement equity financing directly into Veris, yielding $2.5 million in proceeds (gross and net). This supplements a prior $2.4 million financing completed earlier this year.
About this update from Veris Limited
[{"type":"text","content":"Private placement yields $2.5 million from the sale of Veris Health common stock at a $35 million pre-money valuation. ","length":118,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, June 24, 2025 /PRNewswire/ -- PAVmed Inc. (Nasdaq: PAVM) ("PAVmed" or the "Company"), a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors, and its majority-owned subsidiary, Veris Health Inc. ("Veris"), today announced the completion of a private placement equity financing directly into Veris, yielding $2.5 million in proceeds (gross and net). This supplements a prior $2.4 million financing completed earlier this year.","length":546,"tagName":"p"},{"type":"image","alt":"PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. (PRNewsfoto/PAVmed Inc.)","displaySize":"","headline":null,"caption":"PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. (PRNewsfoto/PAVmed Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":81,"url":"https://media.zenfs.com/en/prnewswire.com/b33818e0ad32f6b512ca93166f23ff80"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_9ksw7DB5omdDmUMhUY16g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE0MztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/b33818e0ad32f6b512ca93166f23ff80","width":400,"height":81}},"href":"https://mma.prnewswire.com/media/2011714/PAVmed_updated_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Veris sold shares of its common stock at $1.40 per share, reflecting a pre-money valuation of approximately $35 million. Veris will use the proceeds to advance its implantable physiological monitor through FDA clearance, expected in 2026, and for general corporate purposes. For each share of Veris common stock purchased, the investor received a warrant to purchase an additional share at an exercise price of $1.40 per share. The warrants are callable by Veris within 60 days of FDA clearance of its implantable physiological monitor. Additional capital raised through warrant exercises will be used to accelerate commercialization of the device once cl...