The offering from the New York-based company is now extended through to April 2, having previously been set to close today at midnight, according to a press release.
Pavmed offered Series W warrants during its initial public offering and during private placements prior to the initial public offering, according to a press release.
The Series W warrants are exercisable for a single share of common stock at a price of $5 per share until January 29, 2022, redeemable at the company’s discretion if shares trade at above $10 per share. Series Z warrants are exercisable for a single share of common stock at $3.00 a piece until April 30, 2024, the company said in a press release.
In an earlier release, Pavmed noted that if all W warrants are exchanged as part of its latest offer, the company’s common stock will be cut by 5,283,992 shares.
In January, Pavmed said it had raised $3.9 million in a public offering, with funds slated to support working capital and for general corporate purposes.
The company sold 2.4 million shares of its common stock at $1.80 apiece in the offering, which also included a 45-day option for underwriters to buy an additional 362,292 shares of common stock to cover over-allotments.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
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