Pavmed (NSDQ:PAVM) said today it closed a previously announced public offering, raising approximately $3.9 million which it plans to use for working capital and general corporate purposes.
Money raised in the round came through the sale of 2.4 million shares of its common stock at a price of $1.80 per share, the New York City-based company said.
The offering also includes a 45-day underwriter’s option to purchase an additional 362,292 shares of common stock to cover any overallotments, Pavmed said.
Dawson James Securities acted as the sole underwriter for the offering.
Pavmed originally announced the offering last week, when it also filed for a nearly $90 million offering, saying it plans to float the rights to buy up to 14.6 million units.
