Dawson James Securities Announces the Closing of Oversubscribed $10,350,000 Rights Offering for PAVmed, Inc.
June 13 2018 - 4:34PM
Dawson James Securities, Inc. and Maxim Group LLC acted as
dealer-managers on an oversubscribed equity subscription rights
offering for PAVmed Inc. (Nasdaq:PAVM) (Nasdaq:PAVMZ) which raised
the maximum gross proceeds of $10,350,000 and closed on June
12th.
Pursuant to the Rights Offering, PAVmed’s
stockholders exercised, and the Company accepted equity
subscription rights resulting in the issuance of 9 million units
that consisted of one share of common stock and one Series Z
Warrant. Each right entitled the holder to purchase one unit
at a subscription price of $1.15 per unit, with each unit
consisting of one share of common stock (PAVM) and one Series Z
Warrant (PAVMZ) to purchase one share of common stock with an
exercise price of $1.60.
The Company intends to use the net proceeds from
the offering for general working capital and corporate
purposes.
Questions about the Rights Offering may be directed to Dawson
James Securities, Inc., Attention: Prospectus Department, 1 North
Federal Highway, 5th Floor, Boca Raton, FL 33432, via email
at mmaclaren@dawsonjames.com or telephone (toll free) at
(866) 928-0928.
The Rights Offering was made by means of a written prospectus
pursuant to the Company’s effective registration statement on Form
S-1 (File No. 333-222581) as filed with the SEC. The registration
statement was declared effective by the SEC on May 23, 2018 and is
available on the SEC’s web site at http://www.sec.gov. Copies
of the written prospectus for the Rights Offering may be obtained
by contacting Morrow Sodali Global LLC, the Information Agent for
the Rights Offering, at:
Stockholders please call toll-free: (800) 662-5200 Banks and
Brokerage Firms please call: (203) 658-9400
Email: PAVM.info@morrowsodali.com
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 four lead products provide groundbreaking
approaches to carpal tunnel syndrome (CarpX™), precancerous
conditions of the esophagus (EsoCheck), 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.
About Dawson James
Securities
Dawson James Securities specializes in capital
raising for small and microcap public and private growth companies
primarily in the Life Science/Health Care, Technology and Consumer
sectors and is a full-service investment banking firm with
research, institutional and retail sales, and execution trading and
corporate services. Headquartered in Boca Raton, FL, Dawson
James is privately held with offices in New York, Maryland and New
Jersey. www.dawsonjames.com
Safe Harbor Statement
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: This news release
may contain forward-looking information within the meaning of
Section 27A Of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements that include the words “believes”, “expects”,
“anticipates” or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to differ materially from those
expressed or implied by such forward-looking
statements.
Member FINRA/SIPC. For more
information, please contact:
Elise Stern, Managing Director, Head of
Capital
Marketsestern@dawsonjames.com561-208-2926
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