Benzinga | Feb 22, 2021 04:14PM EST

PAVmed Announces Proposed Common Stock Offering, Size Not Disclosed

NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- PAVmed Inc. (NASDAQ:PAVM, PAVMZ))) (the "Company" or "PAVmed"), a highly differentiated, multi-product, commercial-stage medical device company, today announced that it is commencing an underwritten public offering of its common stock (the "Offering"). PAVmed also expects to grant to the underwriter for the Offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering. All of the shares to be sold in the Offering will be sold by PAVmed, subject to customary closing conditions. PAVmed intends to use the net proceeds from the Offering to repay all of the Company's outstanding debt, including all outstanding convertible notes (subject to our agreeing with the holder of such notes on the terms of repayment), with the balance to be used for working capital and general corporate purposes.