Lucid Diagnostics Announces Pricing of Initial Public Offering
14 Oktober 2021 - 03:28AM
Business Wire
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 Department 499 Park Avenue, 4th Floor, New York, NY 10022
prospectus@cantor.com
Canaccord Genuity LLC, Attention: Syndicate
Department 99 High Street, Suite 1200, Boston, MA 02110
prospectus@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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211013006184/en/
Investors Lisa DeScenza
LaVoieHealthScience (617) 351-0243
ldescenza@lavoiehealthscience.com
Media Katie Gallagher / Kristi
Bruno LaVoieHealthScience (617) 792-3937 / (617) 865-3940
PAVmed@lavoiehealthscience.com
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