PAVmed Regains Compliance with Nasdaq Stockholders' Equity Requirement
PAVmed (NASDAQ: PAVM, PAVMZ) has successfully regained compliance with Nasdaq Capital Market's Continued Listing Standards after receiving written notification from Nasdaq's Listing Qualifications Department on February 14, 2025. The company met the requirement of maintaining stockholders' equity of at least $2.5 million under Listing Rule 5550(b)(1).
The compliance was achieved through strategic initiatives, including the deconsolidation of Lucid Diagnostics subsidiary and restructuring of convertible debt. PAVmed will be subject to a mandatory panel monitor for one year, during which any non-compliance with stockholders' equity requirements will result in a delisting letter, requiring prompt attention and a potential new hearing.
PAVmed (NASDAQ: PAVM, PAVMZ) ha ripristinato con successo la conformità agli standard di quotazione continua del Nasdaq Capital Market dopo aver ricevuto una notifica scritta dal Dipartimento delle Qualifiche di Quotazione del Nasdaq il 14 febbraio 2025. L'azienda ha soddisfatto il requisito di mantenere un patrimonio netto degli azionisti di almeno 2,5 milioni di dollari ai sensi della Regola di Quotazione 5550(b)(1).
La conformità è stata raggiunta attraverso iniziative strategiche, tra cui la deconsolidazione della sussidiaria Lucid Diagnostics e la ristrutturazione del debito convertibile. PAVmed sarà soggetta a un monitoraggio obbligatorio da parte di un pannello per un anno, durante il quale qualsiasi non conformità ai requisiti di patrimonio netto degli azionisti comporterà una lettera di delisting, richiedendo un'attenzione immediata e una potenziale nuova audizione.
PAVmed (NASDAQ: PAVM, PAVMZ) ha recuperado con éxito el cumplimiento de los estándares de listado continuo del Nasdaq Capital Market después de recibir una notificación escrita del Departamento de Calificaciones de Listado del Nasdaq el 14 de febrero de 2025. La compañía cumplió con el requisito de mantener un capital social de al menos 2.5 millones de dólares bajo la Regla de Listado 5550(b)(1).
El cumplimiento se logró a través de iniciativas estratégicas, incluida la deconsolidación de la subsidiaria Lucid Diagnostics y la reestructuración de la deuda convertible. PAVmed estará sujeta a un monitoreo obligatorio por parte de un panel durante un año, durante el cual cualquier incumplimiento de los requisitos de capital social resultará en una carta de deslistado, requiriendo atención inmediata y una posible nueva audiencia.
PAVmed (NASDAQ: PAVM, PAVMZ)는 2025년 2월 14일 나스닥 상장 자격 부서로부터 서면 통지를 받은 후 나스닥 자본 시장의 지속적인 상장 기준을 성공적으로 회복했습니다. 이 회사는 상장 규칙 5550(b)(1)에 따라 최소 250만 달러의 주주 자본을 유지해야 하는 요건을 충족했습니다.
이러한 준수는 Lucid Diagnostics 자회사의 분리 및 전환 사채 재구성을 포함한 전략적 이니셔티브를 통해 달성되었습니다. PAVmed는 1년 동안 의무 패널 모니터링을 받게 되며, 이 기간 동안 주주 자본 요건을 준수하지 않을 경우 상장 폐지 통지가 발부되어 즉각적인 주의와 새로운 청문회가 필요할 수 있습니다.
PAVmed (NASDAQ: PAVM, PAVMZ) a réussi à rétablir sa conformité avec les normes de cotation continue du Nasdaq Capital Market après avoir reçu une notification écrite du département des qualifications de cotation du Nasdaq le 14 février 2025. L'entreprise a respecté l'exigence de maintenir un capital des actionnaires d'au moins 2,5 millions de dollars conformément à la règle de cotation 5550(b)(1).
La conformité a été atteinte grâce à des initiatives stratégiques, y compris la déconsolidation de la filiale Lucid Diagnostics et la restructuration de la dette convertible. PAVmed sera soumise à une surveillance obligatoire par un panel pendant un an, au cours duquel toute non-conformité aux exigences de capital des actionnaires entraînera l'envoi d'une lettre de désinscription, nécessitant une attention rapide et une éventuelle nouvelle audience.
PAVmed (NASDAQ: PAVM, PAVMZ) hat erfolgreich die Einhaltung der fortlaufenden Listungsstandards des Nasdaq Capital Market wiedererlangt, nachdem sie am 14. Februar 2025 eine schriftliche Mitteilung von der Abteilung für Listungsqualifikationen des Nasdaq erhalten hat. Das Unternehmen erfüllte die Anforderung, ein Eigenkapital der Aktionäre von mindestens 2,5 Millionen Dollar gemäß der Listungsregel 5550(b)(1) aufrechtzuerhalten.
Die Einhaltung wurde durch strategische Initiativen erreicht, einschließlich der De-Konsolidierung der Tochtergesellschaft Lucid Diagnostics und der Umstrukturierung von Wandelanleihen. PAVmed unterliegt für ein Jahr einer obligatorischen Überwachung durch ein Gremium, während dessen jede Nichterfüllung der Eigenkapitalanforderungen zu einem Delisting-Brief führen kann, der sofortige Aufmerksamkeit und möglicherweise eine neue Anhörung erfordert.
- Regained Nasdaq listing compliance, avoiding potential delisting
- Successfully increased stockholders' equity above $2.5 million requirement
- Completed strategic restructuring of convertible debt
- Subject to one-year mandatory monitoring period with risk of immediate delisting if requirements not met
- Required deconsolidation of subsidiary Lucid Diagnostics to meet compliance
Insights
PAVmed's successful regaining of Nasdaq compliance through strategic financial restructuring marks a critical turning point for the micro-cap medical technology company. The achievement of the $2.5 million stockholders' equity threshold demonstrates management's ability to execute complex financial maneuvers, particularly through the deconsolidation of Lucid Diagnostics and debt restructuring.
The deconsolidation strategy is particularly noteworthy as it represents a deliberate balance sheet optimization that could provide greater operational autonomy for both entities while improving PAVmed's financial metrics. This financial engineering, combined with the convertible debt restructuring, suggests a comprehensive approach to strengthening the company's capital structure.
However, the mandatory one-year panel monitor period signals that maintaining compliance remains crucial. This oversight mechanism typically indicates heightened scrutiny of financial stability, requiring management to maintain vigilant financial discipline. For investors, while the immediate delisting risk has been mitigated, the monitoring period emphasizes the need to closely track quarterly financial metrics, particularly stockholders' equity levels.
The preservation of Nasdaq listing status carries significant implications beyond mere compliance. It ensures continued access to institutional investors, maintains market liquidity, and provides validation of the company's financial viability - critical factors for a small-cap medical technology company operating in capital-intensive sectors. The successful restructuring potentially positions PAVmed for more efficient capital raising opportunities, though careful management of equity dilution remains essential.
The Company regained compliance under Listing Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market to maintain stockholders' equity of at least
As part of the compliance confirmation, PAVmed will be subject to a customary mandatory panel monitor for a period of one year from the date of the notification. If, during that time, the Company falls out of compliance with the stockholders' equity requirement, Nasdaq will issue a delisting letter, and the Company will be required to address the matter promptly, including requesting a new hearing with the same or a new Panel.
About PAVmed and its Subsidiaries
PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its subsidiary, Lucid Diagnostics Inc. (NASDAQ: LUCD), is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer to mitigate the risks of esophageal cancer deaths. Its other subsidiary, Veris Health Inc., is a digital health company focused on enhanced personalized cancer care through remote patient monitoring using implantable biologic sensors with wireless communication along with a custom suite of connected external devices. Veris is concurrently developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris Cancer Care Platform.
For more and for more information about PAVmed, please visit pavmed.com.
For more information about Lucid Diagnostics, please visit luciddx.com.
For more information about Veris Health, please visit verishealth.com.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of PAVmed's and Lucid'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, volatility in the price of PAVmed's and Lucid's common stock; PAVmed's Series Z warrants; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's and Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's and Lucid's clinical and preclinical studies; whether and when PAVmed's and Lucid's products are cleared by regulatory authorities; market acceptance of PAVmed's and Lucid's products once cleared and commercialized; PAVmed's and Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect PAVmed's and Lucid's future operations, see Part I, Item 1A, "Risk Factors," in PAVmed's and Lucid's 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 Report on Form 10-Q filed by PAVmed or Lucid after its most recent Annual Report. PAVmed and Lucid disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its 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.
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SOURCE PAVmed Inc.
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