Full Press Release Details
NEW YORK,Sept. 10, 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 the pricing of its underwritten public offering of 25,000,000 shares of its common stock at a public offering price of$1.00per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
The gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately$25.0 million, excluding any proceeds from the exercise of the underwriters' option to purchase additional shares. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
The offering is expected to close on or aboutSeptember 11, 2025, subject to customary closing conditions.
Canaccord Genuity LLC and BTIG, LLC are acting as the joint bookrunners of the offering and Maxim Group LLC is acting as co-manager of the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-268560) declared effective by the Securities and Exchange Commission onDecember 6, 2022. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission, together with an accompanying base prospectus. The securities may be offered only by means of a written prospectus forming a part of the effective registration statement. Copies of the prospectus supplement relating to the offering, together with the accompanying base prospectus, may be obtained, when available, from the Securities and Exchange Commission's website athttp://www.sec.gov, or from Canaccord Genuity LLC, Attention: Syndicate Department,One Post Office Square, Suite 3000,Boston, MA02109, or by email at[email protected]or BTIG, LLC, 65 East 55th Street,New York, New York10022, or by email at[email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock. Lucid will not, and has been advised by the underwriters that they and their affiliates will not, sell any of the shares of common stock 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 jurisdiction.
About Lucid DiagnosticsLucid 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'sEsoGuard®Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with itsEsoCheck®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 visitwww.luciddx.comand for more information about its parent company PAVmed, please visitwww.pavmed.com.