Lucid Diagnostics Announces Proposed Public Offering of Common Stock
Lucid Diagnostics (Nasdaq: LUCD), a commercial-stage cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), has announced plans for an underwritten public offering of common stock. The company will grant underwriters a 45-day option to purchase additional shares.
The offering proceeds will be used for working capital and general corporate purposes. Canaccord Genuity will serve as the sole bookrunner, with Maxim Group as co-manager. The offering will be conducted under a shelf registration statement on Form S-3 declared effective by the SEC on December 6, 2022.
The timing, size, and terms of the offering remain subject to market conditions, with no guarantees provided.
Lucid Diagnostics (Nasdaq: LUCD), una società di diagnostica medica per la prevenzione del cancro in fase commerciale e controllata da PAVmed Inc. (Nasdaq: PAVM), ha annunciato piani per un'offerta pubblica di azioni ordinarie garantita. L'azienda concederà agli underwriter un'opzione di 45 giorni per acquistare azioni aggiuntive.
I proventi dell'offerta saranno utilizzati per capitale circolante e scopi aziendali generali. Canaccord Genuity sarà il bookrunner esclusivo, con Maxim Group come co-manager. L'offerta sarà condotta sotto una dichiarazione di registrazione shelf sul modulo S-3 dichiarato efficace dalla SEC il 6 dicembre 2022.
Il tempismo, la dimensione e i termini dell'offerta rimangono soggetti a condizioni di mercato, senza garanzie fornite.
Lucid Diagnostics (Nasdaq: LUCD), una empresa de diagnóstico médico en etapa comercial para la prevención del cáncer y subsidiaria de PAVmed Inc. (Nasdaq: PAVM), ha anunciado planes para una oferta pública de acciones comunes bajo suscripción. La empresa otorgará a los suscriptores una opción de 45 días para comprar acciones adicionales.
Los ingresos de la oferta se utilizarán para capital de trabajo y propósitos corporativos generales. Canaccord Genuity actuará como el único bookrunner, con Maxim Group como co-administrador. La oferta se llevará a cabo bajo una declaración de registro en estante en el formulario S-3 declarado efectivo por la SEC el 6 de diciembre de 2022.
El momento, el tamaño y los términos de la oferta están sujetos a las condiciones del mercado, sin garantías proporcionadas.
루시드 다이아그노스틱스 (Nasdaq: LUCD)는 상장된 암 예방 의료 진단 회사로, PAVmed Inc. (Nasdaq: PAVM)의 자회사입니다. 이 회사는 보통주에 대한 인수 공모 계획을 발표했습니다. 회사는 인수자에게 추가 주식을 구매할 수 있는 45일 옵션을 부여합니다.
이번 공모로 얻은 수익은 운영 자본 및 일반 기업 목적에 사용될 것입니다. Canaccord Genuity가 단독 북러너로 활동하며, Maxim Group이 공동 관리자로 참여합니다. 이번 공모는 2022년 12월 6일 SEC에 의해 효력이 발생한 S-3 양식의 선등록 성명서에 따라 진행됩니다.
공모의 시기, 규모 및 조건은 시장 상황에 따라 달라질 수 있으며, 보장되지 않습니다.
Lucid Diagnostics (Nasdaq: LUCD), une entreprise de diagnostics médicaux en phase commerciale pour la prévention du cancer et filiale de PAVmed Inc. (Nasdaq: PAVM), a annoncé des projets pour une offre publique d'actions ordinaires souscrite. L'entreprise accordera aux souscripteurs une option de 45 jours pour acheter des actions supplémentaires.
Les produits de l'offre seront utilisés pour le fonds de roulement et des fins corporatives générales. Canaccord Genuity sera le bookrunner exclusif, avec Maxim Group en tant que co-manager. L'offre sera réalisée sous une déclaration d'enregistrement en étagère sur le formulaire S-3 déclarée efficace par la SEC le 6 décembre 2022.
Le calendrier, la taille et les conditions de l'offre restent soumis aux conditions du marché, sans garanties fournies.
Lucid Diagnostics (Nasdaq: LUCD), ein kommerzielles Unternehmen für medizinische Diagnostik zur Krebsprävention und Tochtergesellschaft von PAVmed Inc. (Nasdaq: PAVM), hat Pläne für ein unterzeichnetes öffentliches Angebot von Stammaktien angekündigt. Das Unternehmen wird den Underwritern eine 45-tägige Option gewähren, zusätzliche Aktien zu kaufen.
Die Erlöse aus dem Angebot werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet. Canaccord Genuity wird als alleiniger Bookrunner fungieren, während Maxim Group als Co-Manager tätig ist. Das Angebot wird unter einer Shelf-Registrierungsanmeldung auf Formular S-3 durchgeführt, die am 6. Dezember 2022 von der SEC für wirksam erklärt wurde.
Der Zeitpunkt, die Größe und die Bedingungen des Angebots unterliegen den Marktbedingungen, ohne dass Garantien gegeben werden.
- Company has effective shelf registration statement allowing quick access to capital markets
- Established underwriters managing the offering
- Potential dilution of existing shareholders
- Exact offering size and terms not disclosed
- No specific use of proceeds detailed beyond general working capital
Insights
Lucid Diagnostics' announcement of a proposed public offering points to significant dilution ahead for existing shareholders. This secondary offering, while not unusual for smaller healthcare companies, signals the company's need for additional capital to fund operations.
Without specifying the size of the offering or a detailed use of proceeds beyond "working capital and general corporate purposes," investors are left in the dark about the extent of dilution and the strategic direction. The company's current market cap of
The timing raises questions about Lucid's cash runway. Commercial-stage diagnostics companies often require substantial capital to scale sales and marketing efforts, and this move suggests their current cash position may be insufficient for their operational needs.
Adding to investor uncertainty is the lack of detail around pricing, number of shares, or specific funding objectives. The 45-day option for underwriters to purchase additional shares indicates potential for further dilution beyond the initial offering.
While raising capital provides operational flexibility, the market typically reacts negatively to such announcements due to immediate dilution concerns. The company's status as a subsidiary of PAVmed adds another layer of complexity when evaluating the impact on overall corporate structure and resource allocation.
Canaccord Genuity LLC is acting as the sole bookrunner 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 on December 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 at http://www.sec.gov, or from Canaccord Genuity LLC, Attention: Syndicate Department, One Post Office Square, Suite 3000,
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 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.
Forward-Looking Statements
This 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 statements.
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SOURCE Lucid Diagnostics
FAQ
What is the purpose of Lucid Diagnostics' (LUCD) public offering in April 2025?
Who are the underwriters for LUCD's 2025 public stock offering?
What options are being granted to underwriters in LUCD's public offering?
Under which SEC registration is Lucid Diagnostics conducting its 2025 offering?
