NEW
YORK, March 4, 2025 /PRNewswire/
-- Lucid Diagnostics Inc. (Nasdaq:
LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer
prevention medical diagnostics company, and subsidiary of PAVmed
Inc. (Nasdaq: PAVM), today announced that it has entered into
subscription agreements with certain accredited investors to sell
13,939,331 shares of common stock at a purchase price of
$1.10 per share in a registered
direct offering. The gross proceeds to the Company from this
offering are expected to be approximately $15.3 million, before deducting the approximately
$0.8 million in placement agent's
fees and other offering expenses payable by the Company.
Canaccord Genuity is acting as the sole placement agent for this
offering.
The closing of the offering is expected to occur on or about
March 5, 2025, subject to the
satisfaction of customary closing conditions. The Company intends
to use the net proceeds from this offering for working capital and
other general corporate purposes.
The securities described above are being offered pursuant to a
registration statement on Form S-3 (File No. 333-268560), which was
declared effective by the Securities and Exchange Commission on
December 6, 2022. A prospectus
supplement relating to the securities being offered will be filed
with the SEC. Electronic copies of the prospectus supplement and
accompanying base prospectus included in the registration statement
may be obtained, when available, on the SEC's website
at http://www.sec.gov or by contacting Canaccord Genuity
LLC, Attention: Syndicate Department, One
Post Office Square, Suite 3000, Boston, MA 02109, or by email
at prospectus@cgf.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention
medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq:
PAVM). Lucid is focused on the millions of patients with
gastroesophageal reflux disease (GERD), also known as chronic
heartburn, who are at risk of developing esophageal precancer and
cancer. Lucid's EsoGuard® Esophageal DNA Test, performed
on samples collected in a brief, noninvasive office procedure with
its EsoCheck® Esophageal Cell Collection Device,
represent the first and only commercially available tools designed
with the goal of preventing cancer and cancer deaths through
widespread, early detection of esophageal precancer in at-risk
patients.
For more information about Lucid, please visit www.luciddx.com
and for more information about its parent company PAVmed, please
visit www.pavmed.com.
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SOURCE Lucid Diagnostics
