PAVmed Announces Final Results of Offer to Exchange Series W Warrants for Series Z Warrants
April 05 2018 - 7:30AM
Business Wire
PAVmed Inc. (Nasdaq: PAVM, PAVMW) (the “Company”), a
highly differentiated, multiproduct medical device company, today
announced the final results of its previously disclosed offer to
exchange each of its Series W Warrants (Nasdaq: PAVMW, the “Series
W Warrant”) for 0.5 Series Z Warrants (the “Offer”). The Offer
expired at 5:00 p.m. Eastern time on April 2, 2018.
According to Continental Stock Transfer & Trust Company, the
depositary for the Offer, 10,151,682 Series W Warrants were
validly tendered and not validly withdrawn, representing
approximately 96.4% of the outstanding Series W Warrants.
PAVmed has accepted for exchange all of such Series W
Warrants. Approximately 5,075,849 Series Z Warrants will be issued
in exchange for such Series W Warrants (including rounding up
for fractional shares). Settlement is expected to occur on or about
April 5, 2018.
The Offer was made pursuant to an Offer to Exchange, dated
February 20, 2018, as amended on March 5, 2018 and March 16, 2018,
and the related Letter of Transmittal, dated February 20, 2018.
This press release is for informational purposes only and is not an
offer to purchase or a solicitation of an offer to sell
securities.
About PAVmed
PAVmed Inc. is a highly differentiated, multiproduct medical
device company employing a unique business model designed to
advance innovative products 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 encompassing a broad spectrum
of clinical areas with attractive regulatory pathways and market
opportunities. Its three lead products provide groundbreaking
approaches to carpal tunnel syndrome (CarpX™), vascular access
(PortIO™) and pediatric ear infections (DisappEAR™). The company is
also developing innovative products in other areas, such as medical
infusions and tissue ablation, while seeking 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
PAVmed’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, volatility in the price of PAVmed’s
common stock, Series W Warrants and Series Z Warrants; the
uncertainties inherent in research and development, including the
cost and time required advance PAVmed’s products to regulatory
submission; whether regulatory authorities will be satisfied with
the design of and results from PAVmed’s preclinical studies;
whether and when PAVmed’s products are cleared by regulatory
authorities; market acceptance of PAVmed’s 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 PAVmed’s control. For a further list and description of
these and other important risks and uncertainties that may affect
PAVmed’s future operations, see Part I, Item IA, “Risk Factors,” in
PAVmed’s 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 PAVmed after its most recent Annual Report. PAVmed
disclaims any intention or obligation to publicly update or revise
any forward-looking statement to reflect any change in its
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180405005417/en/
InvestorsLHA Investor RelationsKim
Sutton Golodetz, 212- 838-3777kgolodetz@lhai.comorMediaPAVmed Inc.212-949-4319info@pavmed.com
PAVmed (NASDAQ:PAVMW)
Historical Stock Chart
From Aug 2024 to Sep 2024
PAVmed (NASDAQ:PAVMW)
Historical Stock Chart
From Sep 2023 to Sep 2024