M&A - PAVmed Inc.
Form Type: 8-K
Filing Date: 2025-01-21
Corporate Action: Acquisition
Type: New
Accession Number: 000149315225003053
Filing Summary: On January 17, 2025, PAVmed Inc. completed the exchange of $22,347,543 in its Senior Secured Convertible Notes for 22,347 shares of Series C Convertible Preferred Stock. The exchange was under the Debt Exchange Agreement finalized on November 15, 2024, and involved a significant principal balance remaining of approximately $6.6 million. The Company also filed a certificate of designations for the Series C Preferred Stock, which allows for conversion into common stock at a voluntary price of $1.068. The potential conversion could issue up to approximately 20.9 million shares of common stock, while converting at the lower price might yield 104.6 million shares. This action aims to help the Company comply with the Nasdaq continued listing requirements.
Document Link: View Document
Additional details:
Date Of Exchange: 2025-01-17
Principal Amount Of Debt Exchanged: 22,347,543
Number Of Shares Series C: 22,347
Remaining Principal Balance: 6,600,000
Voluntary Conversion Price: 1.068
Estimate Common Shares If Converted: 20,924,157
Floor Price: 0.2136
Estimate Common Shares If Converted At Floor: 104,620,787
Exemption Basis: Section 3(a)(9) of the Securities Act
Comments
No comments yet. Be the first to comment!