Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
Except
as previously disclosed in our current reports on Form 8-K, we did not sell any unregistered securities or repurchase any of our securities
during the three months ended June 30, 2023.
On
October 14, 2021, we completed our initial public offering (“IPO”) of our common stock under an effective registration statement
on Form S-1 (SEC File No. 333-259721). As of June 30, 2023, of the net proceeds of $64.4 million, approximately $57.5 million has been
used, in a manner consistent with the use of proceeds set forth in the prospectus for our IPO, as follows: approximately $5.3 million
of net repayments of Due To: PAVmed Inc.; approximately $5.0 million for the purchase of our laboratory equipment, software, and its
operating expenses; and $47.2 million of working capital expenditures. None of the proceeds have been paid to any of our directors, officers,
10% stockholders, or affiliates, other than as described above.
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