PAVmed Inc. (PAVM)

[robtewms]

PAVmed anticipates that the closing of the Rights Offering will occur on or about June 12, 2018 subject to satisfaction or waiver of all conditions to closing. Upon the closing, the subscription agent will distribute, by way of direct registration in book-entry form or through the facilities of DTCC, as applicable, shares of common stock and Series Z Warrants to holders of rights who have validly exercised their rights and paid the subscription price in full. No physical stock or warrant certificates will be issued to such holders.

Each right entitled the holder to purchase one unit at a subscription price of $1.15 per unit, with each unit consisting of one share of common stock (Nasdaq: PAVM) and one Series Z Warrant (Nasdaq: PAVMZ) to purchase one share of common stock with an exercise price of $1.60. The Series Z Warrants expire on April 30, 2024 and have certain volume and price redemption features. The units will immediately split into their underlying securities and the common stock and the Series Z Warrants will be immediately tradeable upon their issuance.