PAVmed exchanges $22.3M convertible notes for Series C Preferred Stock and enters separate $2.65M purchase

PAVmed Inc.

Exchanged $22,347,543 principal amount of Senior Secured Convertible Notes for 22,347 shares of Series C Preferred Stock.
Series C Preferred Stock carries 7.875% annual dividend, convertible at $1.068 per share, and redeemable at 132.5% of stated value.
Company will seek stockholder approval by Jan 31, 2025 to increase authorized common stock from 50M to 250M shares.
Separate Securities Purchase Agreement for $2,652,456.76 of unsecured debt cancelled in exchange for 2,653 additional Series C Preferred shares.
Outstanding convertible note balance reduced to approximately $6.4 million after exchange; remaining note maturity extended to Dec 31, 2025.

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