Lucid Diagnostics Announces Pricing of Initial Public Offering
14 Oktober 2021 - 4:15AM
Lucid Diagnostics Inc. (Nasdaq: LUCD) (“Lucid”) a commercial-stage,
cancer prevention medical diagnostics company, and subsidiary of
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (“PAVmed”), today announced the
pricing of its initial public offering of 5,000,000 shares of its
common stock at a price to the public of $14.00 per share. All of
the shares are being offered by Lucid. The gross proceeds to Lucid
from the offering, before deducting underwriting discounts,
commissions and other offering expenses payable by Lucid, are
expected to be $70,000,000. In addition, Lucid has granted the
underwriters a 30-day option to purchase up to an additional
750,000 shares of common stock from Lucid at the initial public
offering price less underwriting discounts and commissions.
Lucid's common stock is expected to begin
trading on The Nasdaq Stock Market under the ticker symbol "LUCD"
on October 14, 2021. The offering is expected to close on or about
October 18, 2021, subject to the satisfaction of customary closing
conditions.
Cantor and Canaccord Genuity are acting as joint
book-running managers for the offering. BTIG and Needham &
Company are acting as co-lead managers for the offering.
A registration statement relating to the
securities being sold in the offering was declared effective by the
Securities and Exchange Commission ("SEC") on October 13, 2021. The
offering is being made only by means of a written prospectus.
Copies of the preliminary prospectus and, when available, the final
prospectus related to the offering can be accessed by visiting the
SEC website at http://www.sec.gov. Alternatively, copies of the
final prospectus relating to the offering can be obtained, when
available, from either of the following:
Cantor Fitzgerald & Co., Attention: Capital
Markets Department499 Park Avenue, 4th Floor, New York, NY
10022prospectus@cantor.com
Canaccord Genuity LLC, Attention: Syndicate
Department99 High Street, Suite 1200, Boston, MA
02110prospectus@cgf.com
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
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.
About Lucid Diagnostics
Lucid Diagnostics Inc. (Nasdaq: LUCD) 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 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, is
the first and only commercially available diagnostic test capable
of serving as a widespread screening tool to prevent cancer and
cancer deaths through early detection of esophageal precancer in
at-risk GERD patients. EsoGuard is commercialized in the U.S. as a
Laboratory Developed Test (LDT). EsoCheck is commercialized in the
U.S. as a 510(k)-cleared esophageal cell collection device.
EsoGuard, used with EsoCheck, was granted FDA Breakthrough Device
designation and is the subject of two large, actively enrolling,
international multicenter clinical trials to support FDA PMA
approval. Lucid is building a network of Lucid Test Centers where
at-risk GERD patients can undergo the EsoCheck procedure for
EsoGuard testing.
Forward-Looking Statements
This press release includes forward-looking
statements. 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’s
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, the ability to complete Lucid’s initial public
offering; volatility in the price of Lucid’s common stock; general
economic and market conditions; the uncertainties inherent in
research and development, including the cost and time required
advance Lucid’s products to regulatory submission; whether
regulatory authorities will be satisfied with the design of and
results from Lucid’s clinical and preclinical studies; whether and
when Lucid’s products are cleared by regulatory authorities; market
acceptance of Lucid’s products once cleared and commercialized;
Lucid’s ability to raise additional funding as needed; and other
competitive developments. In addition, Lucid has been monitoring
the COVID-19 pandemic and the pandemic’s impact on Lucid’s
businesses. Lucid expects the significance of the COVID-19
pandemic, including the extent of its effect on its financial and
operational results, to be dictated by, among other things, the
success of efforts to contain the pandemic and the impact of such
efforts on Lucid’s businesses. All of these factors are difficult
or impossible to predict accurately and many of them are beyond
Lucid’s 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’s future operations, see
Lucid’s registration statement on Form S-1 filed with the
Securities and Exchange Commission. Lucid 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.
Contacts
InvestorsLisa DeScenzaLaVoieHealthScience(617)
351-0243ldescenza@lavoiehealthscience.com
MediaKatie Gallagher / Kristi BrunoLaVoieHealthScience(617)
792-3937 / (617) 865-3940PAVmed@lavoiehealthscience.com
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