PAVmed Announces Final Results of Offer to Exchange Series W Warrants for Series Z Warrants
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were validly tendered and not validly withdrawn, representing approximately 96.4% of the outstanding Series W Warrants.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.
Investors
LHA Investor Relations
Kim Sutton Golodetz, 212- 838-3777
kgolodetz@lhai.com
or
Media
PAVmed Inc.
212-949-4319
info@pavmed.com
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