PAVmed Secures $45M in Preferred Stock & Senior Note Financing, Clears Legacy Debt, Adds $7.7M Net Cash
PAVM sits 90% above its 52-week low of $6 on light trading volume (0.3× avg).
Summary
PAVmed Inc. closed a $30 million Series D Convertible Preferred Stock offering with warrants and a $15 million senior secured note, using proceeds to redeem all outstanding Series C Preferred Stock and refinance convertible debt, resulting in $7.7 million in net cash proceeds.
Key Events · Financing and Capital Events · PAVM
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Secured $30 Million in Series D Preferred Stock
PAVmed issued 30,000 shares of newly designated Series D Convertible Preferred Stock for an aggregate purchase price of $30 million. This includes warrants exercisable for an additional 30,000 shares of Series D Preferred Stock, callable upon a positive draft Medicare local coverage determination for Lucid Diagnostics' EsoGuard product.
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Established New $15 Million Senior Secured Note
The company concurrently issued a $15 million senior secured note to an existing investor, accruing interest at 15.0% per annum and maturing in February 2029. The note has a conversion price of $450.00 per share.
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Redeemed All Series C Preferred Stock and Refinanced Debt
Proceeds from the new financings were used to redeem all 16,962 outstanding shares of Series C Preferred Stock and refinance $8,414,890 in principal and interest of its Senior Secured Convertible Note issued in September 2022, totaling approximately $22.3 million in cash payments.
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Added $7.7 Million in Net Cash Proceeds
After the redemptions and refinancing, the company retained approximately $7.7 million in net cash proceeds for general working capital purposes, significantly strengthening its balance sheet.
Analysis · PAVM · Industrial Applications And Services
This 8-K details a highly significant and complex financing transaction for PAVmed, a micro-cap company. The $30 million Series D Convertible Preferred Stock and $15 million senior secured note represent a substantial capital injection relative to the company's size. While the transaction is highly dilutive, with the Series D Preferred Stock convertible at a significant discount to the current market price, it simultaneously addresses a critical issue by eliminating a legacy capital structure overhang from previously outstanding convertible securities. The net cash proceeds of $7.7 million materially strengthen the balance sheet and provide crucial operating runway. This strategic move, following a recent regain of Nasdaq compliance, positions the company with a cleaner capital structure, which management describes as a "transformational positive outcome" to support its diversified medical technology operations and subsidiaries like Lucid Diagnostics and Veris Health.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.2% of the 374 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PAVM was trading at $11.39 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $10.2M. The 52-week trading range was $6.00 to $28.44. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.