Lucid Diagnostics Completes Significant Stock Public Offering
Lucid Diagnostics Completes Significant Stock Public Offering
Lucid Diagnostics Inc. (Nasdaq: LUCD), a pioneering company in cancer prevention medical diagnostics and a subsidiary of PAVmed Inc. (Nasdaq: PAVM), has officially closed its recently announced public offering of common stock. This offering encompassed a total of 28,750,000 shares, which included 3,750,000 shares resulting from the full exercise of the underwriters' options for additional shares. Each share was priced at $1.00 during this offering.
Financial Impact of the Offering
This public offering is expected to generate approximately $26.9 million after accounting for underwriting discounts and other related expenses. The company has stated that these funds will be utilized for working capital, alongside other general corporate purposes. This strategic move indicates Lucid's commitment to enhancing its operations and expanding its reach within the medical diagnostics industry.
Role of Underwriters
The joint bookrunners for this successful offering were Canaccord Genuity LLC and BTIG, LLC, while Maxim Group LLC also played a role as co-manager. Their expertise was essential in facilitating this funding initiative, bringing vital resources to an important cause.
Regulatory Compliance
The securities offered were made possible under a shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission. This regulatory approval, dated back from December 2022, allows for a streamlined approach to public offerings. Additionally, a prospectus supplement relevant to this offering was filed with the SEC on September 10, 2025, ensuring all necessary documentation is in order.
About Lucid Diagnostics
Lucid Diagnostics Inc. is deeply committed to tackling cancer risk, focusing primarily on patients afflicted with gastroesophageal reflux disease (GERD)—a condition that significantly increases the risk of esophageal cancer. Their flagship products, including the EsoGuard Esophageal DNA Test and the EsoCheck Esophageal Cell Collection Device, represent groundbreaking advancements in noninvasive cancer detection. These tools offer patients a vital chance to detect precancerous conditions early, thereby potentially reducing cancer fatalities.
Company Commitment and Innovation
As Lucid diversifies its offerings and invests in new innovations, the focus remains on improving patient outcomes through early detection. Their dedication to research and development is crucial in navigating the complexities of cancer diagnostics, with their efforts aimed squarely at preventing cancer-related deaths through widespread awareness and early intervention.
Contact Information
For those interested in further information regarding Lucid's innovative solutions for cancer prevention, their official website provides detailed resources. Here, potential investors and patients can learn more about their offerings and find insights into upcoming developments.
Frequently Asked Questions
What is the purpose of the recent public offering by Lucid Diagnostics?
The recent public offering generated funds intended for working capital and general corporate needs, supporting Lucid's mission in cancer diagnostics.
Who were the underwriters for this offering?
Canaccord Genuity LLC and BTIG, LLC acted as the joint bookrunners, while Maxim Group LLC served as a co-manager for the offering.
How many shares were sold in the public offering?
A total of 28,750,000 shares of common stock were sold, which included additional shares based on underwriters' options.
What products does Lucid Diagnostics offer?
Lucid Diagnostics offers the EsoGuard Esophageal DNA Test and the EsoCheck Esophageal Cell Collection Device, which aid in the early detection of esophageal precancer.
How will Lucid utilize the proceeds from the offering?
The proceeds will be used to enhance operational capabilities, expand research, and support general corporate purposes, reinforcing their role in the medical diagnostics space.
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