Lucid Diagnostics Inc. (LUCD), a cancer prevention diagnostics company and subsidiary of PAVmed Inc., Tuesday has entered into subscription agreements with accredited investors to sell 13,939,331 shares of common stock at $1.1 per share in a registered direct offering. The company expects to raise approximately $15.3 million in gross proceeds, with around $0.8 million allocated for placement agent fees and other expenses.
Canaccord Genuity is serving as the sole placement agent, and the offering is anticipated to close on March 5, 2025. The net proceeds will be used for working capital and general corporate purposes.
The offering is being conducted under a Form S-3 registration statement (File No. 333-268560), declared effective by the SEC on December 6, 2022. A prospectus supplement will be filed with the SEC, and electronic copies will be available on the SEC's website or through Canaccord Genuity.
This announcement does not constitute an offer or solicitation to buy or sell these securities in any jurisdiction where such actions would be unlawful.
LUCD is currently trading at $1.2795 or 4.5149% lower on the Nasdaq Capital Market.
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