PAVmed extends senior secured note maturities to 2025; pays $2M for covenant waiver

PAVmed Inc.

April 2022 Note maturity extended to April 4, 2025; September 2022 Note to September 8, 2025.
Holder waived financial covenant (30% market cap to principal ratio) from Dec 1 2023 to Aug 31 2024.
PAVmed to pay $2M cash (or agreed form) by April 25, 2024 for the amendment and waiver.
Covenant waiver conditioned on company market capitalization not falling below $75M during period.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PAVmed Inc. amended Amendment and Waiver with holder of senior secured convertible notes valued at $2,000,000 cash payment; maturity extended to April 4, 2025 (April 2022 Note) and September 8, 2025 (effective 2024-03-12).

Action: amendment
Agreement: credit facility
Counterparty: holder of senior secured convertible notes
Value: $2,000,000 cash payment; maturity extended to April 4, 2025 (April 2022 Note) and September 8, 2025
Effective: 2024-03-12

Exact text from the filing

Effective as of March 12, 2024, PAVmed Inc. (the “ Company ”), entered into an amendment and waiver (the “ Amendment and Waiver ”) with the holder of the senior secured convertible note issued by the Company as of April 4, 2022 (the “ April 2022 Note ”) and the secured convertible note issued by the Company as of September 8, 2022 (the “ September 2022 Note ,” and together with the April 2022 Note, the “ Notes ”).

View on SEC.gov

319 material agreements filed in the last 30 days. Browse all material agreements →

PAVmed Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009894

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.