PAVmed Announces Effectiveness of Form S-1 Resale Registration Statement
June 23 2017 - 4:51PM
Business Wire
PAVmed Inc. (Nasdaq: PAVM, PAVMW), a highly
differentiated, multiproduct medical device company, today
announced that on June 23, 2017, the Securities and
Exchange Commission declared effective PAVmed’s registration
statement on Form S-1 relating to resale by certain selling
securityholders of certain shares and warrants issued and issuable
from the Company’s previously announced preferred unit offering.
PAVmed registered these securities to satisfy commitments it made
in connection with the preferred unit offering to the selling
securityholders.
The resale registration statement, while effective, allows the
selling securityholders to publicly resell the securities covered
by the registration statement, subject to the satisfaction by
selling securityholders of the prospectus delivery requirements of
the Securities Act of 1933, as amended, in connection with any such
resale. PAVmed will not receive any proceeds from any sales by
selling securityholders (although it could receive certain proceeds
from the exercise of warrants covered by the registration
statement), and PAVmed is not aware of any plans by selling
securityholders to effect such resales.
The offering of these securities may only be made by means of a
prospectus. A registration statement relating to these securities
has been declared effective by the Securities and Exchange
Commission. The registration statement may be accessed through
the SEC's website at www.sec.gov. A copy of the
prospectus related to the offering may be obtained
from PAVmed, Inc., One Grand Central Place, Suite 4600,
New York, New York 10165, or by calling (212) 949-4319.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the company's securities,
nor shall there be any sale of these securities in any state in
which offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
In connection with the declaration of effectiveness of the Form
S-1 registration statement, PAVmed withdrew its previously filed
registration statement on Form S-4 related to its proposed offer to
exchange one share of common stock for one new unit, each
consisting of one share of common stock and one warrant to purchase
one share of common stock. Although it is possible that PAVmed may
determine to proceed with an exchange offer at a later time as
contemplated by the registration statement, it does not intend to
proceed with the exchange offer at this time.
About PAVmed
PAVmed Inc. is a highly differentiated, multiproduct 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 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™) and pediatric ear infections (DisappEAR™).
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, 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
preclinical 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 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170623005668/en/
InvestorsLHA Investor RelationsKim
Sutton Golodetz, 212-838-3777kgolodetz@lhai.comorMediaRooneyPartnersKate Barrette,
212-223-0561Kbarrette@rooneyco.com
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