Lucid Diagnostics prices 25 million share offering at $1.00 per share

Lucid Diagnostics Inc. (NASDAQ: LUCD) announced the pricing of its underwritten public offering of 25 million shares of common stock at $1.00 per share. The medical diagnostics company also granted underwriters a 30-day option to purchase up to an additional 3.75 million shares at the same price, less underwriting discounts and commissions.

The company expects gross proceeds of approximately $25 million from the offering, before deducting underwriting discounts, commissions and other estimated offering expenses. Lucid plans to use net proceeds for working capital and general corporate purposes.

The offering is expected to close on or about September 11, 2025, subject to customary closing conditions. Canaccord Genuity LLC and BTIG, LLC are serving as joint bookrunners, while Maxim Group LLC acts as co-manager.

Lucid Diagnostics is a subsidiary of PAVmed Inc. (NASDAQ: PAVM) and focuses on cancer prevention medical diagnostics. The company targets patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer.

The offering is being conducted under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on December 6, 2022. A prospectus supplement relating to the offering will be filed with the SEC along with an accompanying base prospectus.

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