Pavmed sets terms for warrants offering

Pavmed (NSDQ:PAVM) said today that it set the terms for a forthcoming rights offering, saying it plans to issue a single unit for each share of common stock. Each unit will include one common share and a six-year Series Z warrant worth $2.25 per share, redeemable at $3 each, the New York City-based company said. Last week, Pavmed cut the exercise price on the Series W warrants, from $2.50 to $2.00 apiece, its second price cut since late last year. Originally exercisable at $5.00 apiece, the company slashed the price in half last December. “Pavmed is providing this opportunity to exercise warrants at a reduced price in order to encourage holders to exercise a meaningful portion of the outstanding warrants, providing the company with additional capital to advance its lead products, particularly its CarpX minimally invasive carpal tunnel syndrome device, through important near-term regulatory and commercialization milestones,” the company said in a statement last month. Pavmed’s CarpX percutaneous device helps doctors relieve compression of the median nerve without the need for a surgical incision. The product, positioned using ultrasound guidance, combines a balloon catheter with bipolar radio-frequency cutting electrodes. Pavmed filed a 510(k) application with the FDA for CarpX in November of last year. The post Pavmed sets terms for warrants offering appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Funding Roundup Wall Street Beat Pavmed Source Type: news

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Pavmed (NSDQ:PAVM) said this week that it inked a deal to sell a senior secured convertible note of $7.8 million to an institutional investor. The note was sold with an issue discount of $725,000, for gross proceeds to Pavmed of $7 million. Maxim Group, which acted as the placement agent for the transaction, received a 6.5% fee, according to a report filed with the SEC. The company said that after it consummated the sale of its convertible note, Pavmed repaid the outstanding principal balance and all accrued interest on a senior secured note held by an existing lender. Pavmed dealt a cash payment of $5 million to Scop...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Funding Roundup Wall Street Beat Pavmed Source Type: news
The FDA group reviewing the 510(k) application for Pavmed‘s (NSDQ:PAVM) CarpX device wants the company to resubmit the application. The FDA told the company that it had not reached a consensus within the review period set by the agency’s rules. To extend the review process, the FDA recommended that Pavmed resubmit the application. In a filing with the SEC, Pavmed said it initiated the submission this week and hopes to land a pre-submission meeting in the next 45 days. The company’s minimally-invasive CarpX device is designed to treat carpal tunnel syndrome. The device enables a physician to relieve c...
Source: Mass Device - Category: Medical Devices Authors: Tags: 510(k) Food & Drug Administration (FDA) Pain Management Regulatory/Compliance Pavmed Source Type: news
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Pavmed (NSDQ:PAVM) has registered for a nearly $90 million offering, saying it plans to float the rights to buy up to 14.6 million units. The New York City-based company said it would issue a single unit for each share of common stock. Each unit is slated to include one common share and a six-year Series Z warrant worth $2.25 per share, redeemable at $3 apiece. Pavmed plans to use the funds it raises from the offering to support its R&D efforts and the development of its current pipeline, according to the prospectus filed with the SEC. Last week, Pavmed cut the exercise price on the Series W w...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Funding Roundup Wall Street Beat Pavmed Source Type: news
Pavmed (NSDQ:PAVM) said today it would cut the cash exercise price of each of its Series W warrants from $2.50 to $2.00 apiece. This is the second price cut that Pavmed has given for its outstanding warrants. Each of the New York-based company’s outstanding warrants were exercisable at $5.00 apiece for one share of common stock before the company slashed the price in half in December. Pavmed also said today that it plans to implement a rights offering for holders of its common stock. The company will grant one transferable right to buy a new unit of Pavmed securities for each share of outstanding common sto...
Source: Mass Device - Category: Medical Devices Authors: Tags: Funding Roundup Wall Street Beat Pavmed Source Type: news
Pavmed (NSDQ:PAVM) said this week that it plans to temporarily cut the exercise price of its outstanding Series W warrants in half. Each of the New York-based company’s outstanding warrants is currently exercisable at $5.00 apiece for one share of common stock. After Pavmed files tender offer materials, each warrant will have an exercise price of $2.50 per share. The company said it expects the offer will be good for 20 business days, but it could decide to extend the deal. “Pavmed is providing this opportunity to exercise warrants at a reduced price in order to encourage holders to exercise a meaningful p...
Source: Mass Device - Category: Medical Devices Authors: Tags: Funding Roundup Pain Management Wall Street Beat Pavmed Source Type: news
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