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PAVmed Files Registration Statement for Issuance of Shares Underlying IPO Warrants

NEW YORK--(BUSINESS WIRE)-- PAVmed Inc. (Nasdaq:PAVM, PAVMW), a highly differentiated, multi-product medical device company, today announced that the company has filed a registration statement on Form S-1 with the Securities and Exchange Commission to register the issuance of 1,060,000 shares of common stock underlying the IPO warrants. The company completed its IPO on April 28, 2016.

The IPO warrants are exercisable at a price of $5.00 per share commencing October 28, 2016 and expire on January 29, 2022, or earlier in the event of redemption. Prior to the effectiveness of the registration statement, the IPO warrants are exercisable on a cashless basis. As of the close of trading on October 27, 2016, the last sale price of the company’s common stock was $11.85 per share. PAVmed expects to use any proceeds from the exercise of the IPO warrants for working capital and general corporate purposes.

The company is currently contemplating alternatives relating to its capital structure. Such alternatives may include transactions with holders of the company’s outstanding warrants. Any such transaction may be more beneficial to the warrantholders than exercising the warrants pursuant to their existing terms. There can be no assurance, however, that any such transaction will occur at all, or if it does, that it ultimately will be more beneficial to a warrantholder than selling its warrants in the market at prevailing prices or exercising its warrants and holding or selling the shares of common stock received upon such exercise. The determination whether to proceed with any such transaction shall be in the company’s sole discretion and shall be based upon market conditions at such time, among other considerations.

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 any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

About PAVmed

PAVmed Inc. (Nasdaq:PAVM) is a highly differentiated, multi-product medical device company employing a unique business model designed to advance products from concept to commercialization much more rapidly and with significantly less capital than the typical medical device company. This proprietary model enables PAVmed to pursue an expanding multi-product pipeline strategy with a view to enhancing and accelerating value creation. PAVmed’s diversified pipeline of products address unmet clinical needs, have attractive regulatory pathways and market opportunities and encompass a broad spectrum of clinical areas including carpal tunnel syndrome (CarpX™), medical infusions (NextFlo™ and NextCath™), interventional radiology (PortIO™ and NextCath), tissue ablation and cardiovascular intervention (Caldus™). The Company intends to further expand its pipeline through engagements with clinician innovators and leading academic medical centers. For further information, please visit www.pavmed.com.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, factors affecting the timing and effectiveness of the registration statement; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required advance our products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from our pre‐clinical studies; whether and when our products are cleared by regulatory authorities; market acceptance of our products once cleared and commercialized; our ability to raise additional funding and other competitive developments. PAVmed has not yet sought or received clearance from the FDA or other regulatory body to market any of its products. New risks and uncertainties may arise from time to time and are difficult to predict. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item IA, “Risk Factors,” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, “Risk Factors” in any Quarterly Reports on Form 10-Q filed by us after our most recent Annual Report. We disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.

 

 

For PAVmed Inc.
Investors
LHA
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Media
Erich Sandoval, 917-497-2867
esandoval@lazarpartners.com

Source: PAVmed Inc.

Released October 28, 2016