PAVmed Announces Warrants Now Exercisable for Cash

NEW YORK–(BUSINESS WIRE)–PAVmed Inc. (Nasdaq:PAVM,PAVMW), a highly differentiated,
multi-product medical device company, announced that at 4:00 pm today
the Securities and Exchange Commission (“SEC”) declared effective the
company’s registration statement (the “Registration Statement”) relating
to shares of common stock underlying the warrants included in the units
issued in the company’s IPO and certain other warrants (the “Warrants”).
Accordingly, the Warrants are currently exercisable at an exercise price
of $5.00 per share in cash. If all such Warrants were exercised, PAVmed
would receive gross proceeds of approximately $10.4 million. There can
be no assurance that all or any of such Warrants will be exercised.

A final prospectus relating to the offering of the shares underlying the
Warrants will be filed with the SEC. Copies of the final prospectus may
be obtained from the SEC at http://www.sec.gov
or from PAVmed at One Grand Central Place, Suite 4600, New York, New
York 10165, attention: Lishan Aklog, telephone: (212) 949-4319.

About PAVmed Inc.

PAVmed Inc. (Nasdaq: PAVM, PAVMW) is a highly differentiated,
multi-product medical device company employing a unique business model
designed to advance products from concept to commercialization much more
rapidly and with significantly less capital than the typical medical
device company. This proprietary model enables PAVmed to pursue an
expanding multi-product pipeline strategy with a view to enhancing and
accelerating value creation. PAVmed’s diversified pipeline of products
address unmet clinical needs, have attractive regulatory pathways and
market opportunities and encompass a broad spectrum of clinical areas
including carpal tunnel syndrome (CarpX™), medical infusions (NextFlo™
and NextCath™), interventional radiology (PortIO™ and NextCath), tissue
ablation and cardiovascular intervention (Caldus™) and pediatric ear
infections (DisappEAR™).

Safe Harbor Statement

This press release includes forward-looking statements that involve
risks and uncertainties. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements, based upon
the current beliefs and expectations of the Company’s management, are
subject to risks and uncertainties, which could cause actual results to
differ from the forward-looking statements. Risks and uncertainties that
may cause such differences include, among other things, the
uncertainties inherent in research and development, including the cost
and time required advance our products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and results
from our pre‐clinical studies; whether and when our products are cleared
by regulatory authorities; market acceptance of our products once
cleared and commercialized; our ability to raise additional funding and
other competitive developments. PAVmed has not yet received clearance
from the FDA or other regulatory body to market any of its products. New
risks and uncertainties may arise from time to time and are difficult to
predict. All of these factors are difficult or impossible to predict
accurately and many of them are beyond our control. For a further list
and description of these and other important risks and uncertainties
that may affect our future operations, see Part I, Item IA, “Risk
Factors,” in our most recent Annual Report on Form 10-K filed with the
Securities and Exchange Commission, as the same may be updated in Part
II, Item 1A, “Risk Factors” in any Quarterly Reports on Form 10-Q filed
by us after our most recent Annual Report. We disclaim any intention or
obligation to publicly update or revise any forward-looking statement to
reflect any change in our expectations or in events, conditions, or
circumstances on which those expectations may be based, or that may
affect the likelihood that actual results will differ from those
contained in the forward-looking statements.

Contacts

Investors
LHA
Kim Sutton
Golodetz, 212-838-3777
kgolodetz@lhai.com
or
LA@pavmed.com
or
Media
RooneyPartners
Kate
Barrette, 212-223-0561
kbarrette@rooneyco.com