<SEC-DOCUMENT>0001493152-25-006358.txt : 20250213
<SEC-HEADER>0001493152-25-006358.hdr.sgml : 20250213
<ACCEPTANCE-DATETIME>20250213134018
ACCESSION NUMBER:		0001493152-25-006358
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250213
DATE AS OF CHANGE:		20250213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAVmed Inc.
		CENTRAL INDEX KEY:			0001624326
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				471214177
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-89489
		FILM NUMBER:		25619021

	BUSINESS ADDRESS:	
		STREET 1:		360 MADISON AVENUE
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		(212) 949-4319

	MAIL ADDRESS:	
		STREET 1:		360 MADISON AVENUE
		STREET 2:		25TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAXmed Inc.
		DATE OF NAME CHANGE:	20141105

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ayrton Capital LLC
		CENTRAL INDEX KEY:			0001698148
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		55 POST RD WEST
		STREET 2:		2ND FLOOR
		CITY:			WESTPORT
		STATE:			CT
		ZIP:			06880
		BUSINESS PHONE:		646-793-9056

	MAIL ADDRESS:	
		STREET 1:		55 POST RD WEST
		STREET 2:		2ND FLOOR
		CITY:			WESTPORT
		STATE:			CT
		ZIP:			06880
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001493152-24-006566</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Ayrton Capital LLC -->
          <cik>0001698148</cik>
          <ccc>XXXXXXXX</ccc>
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      <liveTestFlag>LIVE</liveTestFlag>



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    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.001 par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001624326</issuerCik>
        <issuerName>PAVMED INC.</issuerName>
        <issuerCusip>70387R403</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>360 Madison Avenue, 25th Floor</com:street1>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10017</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
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      <reportingPersonName>Ayrton Capital LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1226316.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1226316.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1226316.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1226316.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1226316.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1226316.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Waqas Khatri</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1226316.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1226316.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1226316.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>PAVMED INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>360 Madison Avenue, 25th Floor, New York, NY, 10017</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>(i) Ayrton Capital LLC; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B; and (iii) Waqas Khatri</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>(i) Ayrton Capital LLC, 55 Post Rd West, 2nd Floor, Westport, CT 06880, (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B, Suite #7 Grand Pavilion Commercial Centre, 802 West Bay Road, Grand Cayman, P.O. Box 10250, Cayman Islands, and (iii) Waqas Khatri, 55 Post Rd West, 2nd Floor, Westport, CT 06880</principalBusinessOfficeOrResidenceAddress>
        <citizenship>(i) Ayrton Capital LLC: United States, (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: Cayman Islands; and (iii)Waqas Khatri: United States</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>(i) Ayrton Capital LLC: 1,226,316; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 1,226,316; and (iii) Waqas Khatri: 1,226,316. Represents (i) 29,816 shares of Common Stock held by the Reporting Persons; and (ii) 1,196,500 shares of Common Stock issuable on the conversion of certain convertible notes (the "Notes") held by the Reporting Persons at December 31, 2024. The issuable shares of Common Stock related to the conversion of the Notes are subject to a 9.99% beneficial ownership blocker. The shares reported herein represent Common Stock of PAVMED INC. (the "Issuer") held by Alto Opportunity Master Fund, SPC- Segregated Master Portfolio B, a Cayman Islands exempted company (the "Fund"). The Fund is a private investment vehicle for which Ayrton Capital LLC, a Delaware limited liability company (the "Investment Manager"), serves as the investment manager. Waqas Khatri serves as the managing member of the Investment Manager (all of the foregoing, collectively, the "Reporting Persons").</amountBeneficiallyOwned>
        <classPercent>The percentages below are based on (i) 11,068,566 shares of Common Stock of the Issuer that were outstanding as of November 11, 2024; and (ii) 1,196,500 shares of Common Stock issuable on the conversion of the Notes held by the Reporting Persons. The amount of shares outstanding was based upon a statement in the Issuer's Form 10-Q, filed on November 14, 2024. For the sake of clarity, the holdings of the Reporting Persons reported herein are as of December 31, 2024. (i) Ayrton Capital LLC: 9.9%; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 9.9%; and (iii) Waqas Khatri: 9.9%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>(i) Ayrton Capital LLC: 1,226,316; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 1,226,316; and (iii) Waqas Khatri: 1,226,316</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>(i) Ayrton Capital LLC: 0; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 0; and (iii) Waqas Khatri: 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>(i) Ayrton Capital LLC: 1,226,316; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 1,226,316; and (iii) Waqas Khatri: 1,226,316</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>(i) Ayrton Capital LLC: 0; (ii) Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B: 0; and (iii) Waqas Khatri: 0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Ayrton Capital LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Waqas Khatri</signature>
        <title>Waqas Khatri / Managing Member</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Waqas Khatri</signature>
        <title>Waqas Khatri / Director</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Waqas Khatri</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Waqas Khatri</signature>
        <title>Waqas Khatri</title>
        <date>02/13/2025</date>
      </signatureDetails>
    </signatureInformation>
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</SEC-DOCUMENT>
