Full Press Release Details
Diagnostics Announces Closing of Public Offering of Common Stock
YORK, April 11, 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 the
closing of its previously announced underwritten public offering of 14,375,000 shares of its common stock, including 1,875,000 shares
issued pursuant to the exercise of the underwriters' option to purchase additional shares, at a public offering price of $1.20
total net proceeds from the offering, after deducting the underwriting discounts and commissions and other estimated offering expenses,
are expected to be approximately $16.1 million. The Company intends to use the net proceeds from this offering for working capital and
general corporate purposes.
Genuity LLC acted as the sole bookrunner of the offering, and Maxim Group LLC acted as co-manager.
securities were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-268560) declared effective by the Securities
and Exchange Commission on December 6, 2022. A prospectus supplement relating to the offering was filed with the Securities and Exchange
Commission, together with an accompanying base prospectus, on April 10, 2025. Copies of the prospectus supplement relating to the offering,
together with the accompanying base prospectus, may be obtained from Canaccord Genuity LLC, Attention: Syndicate Department, One Post
Office Square, Suite 3000, Boston, MA 02109, or by email at prospectus@cgf.com.
press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or other jurisdiction
in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any
such state or 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 www.pavmed.com.
press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements
that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid Diagnostics'
management, are subject to risks and uncertainties, which could cause actual results to
differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility
in the price of Lucid Diagnostics' common stock; general economic and market conditions; the uncertainties inherent in research
and development, including the cost and time required to advance Lucid Diagnostics' products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and results from Lucid Diagnostics' clinical and preclinical studies;
whether and when Lucid Diagnostics' products are cleared by regulatory authorities; market acceptance of Lucid Diagnostics'
products once cleared and commercialized; Lucid Diagnostics' ability to raise additional funding as needed; and other competitive
developments. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid Diagnostics' control.
In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description
of these and other important risks and uncertainties that may affect Lucid Diagnostics' future operations, see Part I, Item 1A,
"Risk Factors," in Lucid Diagnostics' most recent Annual Report on Form 10-K filed with the Securities and Exchange
Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by
Lucid Diagnostics after its most recent Annual Report. Lucid Diagnostics disclaims any intention or obligation to publicly update or
revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those
expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking
Investor and Media Contact:
PAVmed and Lucid Diagnostics