PAVmed shares surge 10.45% premarket after $45M financing strengthens balance sheet by retiring convertible debt and overhang.

PAVmed Inc. surged 10.45% in premarket trading following the announcement of a $45 million financing deal, including a $30 million Series D Preferred Stock offering and a $15 million senior secured note. The proceeds were used to redeem all outstanding convertible securities, eliminating a significant capital structure overhang and strengthening the balance sheet with $7.7 million in net cash. The transaction, supported by existing long-term investors, also included warrants exercisable for an additional $30 million contingent on a positive Medicare coverage determination for its EsoGuard diagnostic test. Management highlighted the restructuring as a "transformational" step to unlock shareholder value, with a clean capital structure now poised to support growth in diagnostics and digital health subsidiaries.