Full Press Release Details
Diagnostics Announces $15.3 Million Registered Direct Offering
YORK, March 4, 2025 - 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.
Genuity is acting as the sole placement agent for this offering.
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.
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
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.
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.
more information about Lucid, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit
PAVmed and Lucid Diagnostics