Full Press Release Details
ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION WITH RESPECT TO FIRM COMMITMENT COMMON STOCK OFFERING
YORK (January 25, 2018) - PAVmed Inc. (Nasdaq: PAVM, PAVMW) ("PAVmed"), a highly differentiated, multiproduct
medical device company, today announced that it has completed the sale of 234,540 shares ("Option Shares")
of common stock, $0.001 par value per share ("Common Stock"), in connection with the partial exercise of the
over-allotment option granted to the underwriter in its previously announced public offering of 2,415,278 shares of Common Stock
("Firm Shares"). The Firm Shares and the Option Shares were sold at a public offering price of $1.80 per share.
James Securities, Inc. acted as the underwriter of the offering.
proceeds from the sale of the Firm Shares and the Option Shares, after underwriting discounts and other offering expenses, were
approximately $4.3 million. The Company plans to use the net proceeds for working capital and other general corporate purposes.
remainder of the over-allotment option may be exercised by the underwriter for up to 127,752 additional shares of Common Stock
until March 5, 2018.
offering was made pursuant to a shelf registration statement (File No. 333-220549) declared effective by the Securities and Exchange
Commission on October 6, 2017. A preliminary prospectus supplement and final prospectus supplement relating to the offering were
filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus relating
to the offering may be obtained from the Securities and Exchange Commission at http://www.sec.gov, or from Dawson James Securities,
Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com or
toll free at 866.928.0928.
press release shall not constitute an offer to sell or the solicitation of an offer to buy, the shares of common stock. PAVmed
will not, and has been advised by the underwriters that they and their affiliates will not, sell any of the shares of common stock
in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or jurisdiction.
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 ), interventional
radiology (PortIO and NextCath ), pediatric ear infections (DisappEAR ) medical infusions (NextFlo and
NextCath ), and 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
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, volatility in the price of the Company's
common stock; 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.