PAVmed Inc. Holds Special Meeting and Receives Stockholder Approval

On January 15, 2025, PAVmed Inc. (NASDAQ: PAVM) conducted a special meeting of stockholders where shareholders representing roughly 53.8% of the outstanding shares gathered either in person or through proxies. At the meeting, all the proposed matters were approved unanimously by the stockholders present.

One of the key proposals involved approving the issuance of PAVmed’s common stock upon the conversion of Series C Convertible Preferred Stock as outlined in the Certificate of Designations. This move was in connection with the Debt Exchange Agreement dated November 15, 2024. The stockholders were in favor of this, with 5,478,845 votes for, 458,509 against, and 22,972 abstentions.

Similarly, another proposal included the authorization for issuing common stock upon the conversion of Series C Preferred Stock according to the Certificate of Designations, this time under the Securities Purchase Agreement dated November 20, 2024. This proposal too received favorable responses with 5,462,113 votes for, 468,387 against, and 29,826 abstentions.

Further details related to these transactions can be found in the Definitive Proxy Statement filed on December 6, 2024. PAVmed intends to finalize the debt exchange for Series C Preferred Stock as per the Debt Exchange Agreement and the sale of Series C Preferred Stock as per the Securities Purchase Agreement promptly and no later than January 31, 2025.

Moreover, there was an additional proposal to amend PAVmed’s Certificate of Incorporation to increase the total number of authorized common stock shares from 50,000,000 to 250,000,000. This amendment was approved with 5,227,061 votes for, 719,044 against, and 14,221 abstentions.

A certificate of amendment reflecting the changes to the Certificate of Incorporation was duly filed with the Delaware Secretary of State on January 15, 2025, and came into effect on that date. With all proposals approved, the adjournment proposal was not presented to the stockholders in this meeting.

These developments were disclosed in a Form 8-K filing with the Securities and Exchange Commission by PAVmed Inc. on January 15, 2025, underscoring the company’s commitment to navigating strategic decisions with shareholder interests in mind.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PAVmed’s 8K filing here.

PAVmed Company Profile

PAVmed Inc focuses on acquiring, developing, and commercializing novel products that target unmet needs in the United States. The company's lead products include CarpX, a patented, single-use, disposable, and minimally invasive surgical device for use in the treatment of carpal tunnel syndrome; EsoCheck Esophageal Cell Collection Device, which consists of diagnostic test that serves as a testing tool for preventing esophageal adenocarcinoma deaths, through early detection of esophageal precancer in at-risk gastroesophageal reflux disease, including chronic heartburn and acid reflux or simply reflux in patients; and EsoGuard, a bisulfite-converted next-generation sequencing DNA assay performed on surface esophageal cells collected with EsoCheck.