Lucid Diagnostics Announces Closing of $18 Million Underwritten Offering of Common Stock

Rhea-AI Summary

Lucid Diagnostics (NASDAQ: LUCD) closed an underwritten registered direct offering of 18,000,000 common shares at $1.00 per share, generating approximately $18 million in gross proceeds on April 24, 2026.

The offering was anchored by a $15 million investment from a fundamental institutional investor with support from a large existing shareholder. Net proceeds are intended for working capital and general corporate purposes.

Positive

• $18.0M gross proceeds from offering
• $15.0M anchor investment from institutional investor
• Proceeds designated for working capital and general corporate purposes

Negative

• Issued 18,000,000 new common shares at $1.00 (potential dilution)
• Gross proceeds reduced by underwriting discounts, commissions, and offering expenses

News Market Reaction – PAVM

-1.85%

-1.85% Session close to close

In the Apr 24 session, PAVM declined 1.85%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details Lucid’s closing of an underwritten registered direct offering of 18,000,00...

Analysis

This announcement details Lucid’s closing of an underwritten registered direct offering of 18,000,000 shares at $1.00, raising about $18M for working capital and corporate purposes. Prior Lucid offerings under S-3 frameworks have produced modest, often slightly negative moves averaging about -0.84%. For PAVmed, a separate S-3 covers 9,230,786 resalable shares with up to $30M in warrant proceeds, so investors may watch future share issuance and funding steps closely.

Key Figures

Offering size: $18 million gross proceeds Shares offered: 18,000,000 common shares Offering price: $1.00 per share +5 more

8 metrics

Offering size $18 million gross proceeds Lucid underwritten registered direct offering

Shares offered 18,000,000 common shares Lucid offering size

Offering price $1.00 per share Lucid common stock offering price

Anchored investment $15 million Investment from a fundamental institutional investor

Shelf shares 9,230,786 shares Resale registration under PAVmed S-3 shelf

Warrant proceeds $30,000,000 Maximum proceeds to PAVmed if warrants are exercised

Conversion price $6.50 per share Series D preferred stock conversion into common

Offered share price (prior deal) $1.20 per share April 2025 Lucid offering pricing

Previous Offering Reports

5 past events · Latest: Sep 11 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Sep 11	Offering closing	Negative	+1.1%	Closed 28.75M-share offering at $1.00; net proceeds about $26.9M.
Sep 10	Offering pricing	Negative	-1.5%	Priced 25M-share offering at $1.00; gross proceeds about $25M.
Sep 09	Offering announcement	Negative	-1.5%	Proposed underwritten public offering with 30-day underwriter option.
Apr 11	Offering closing	Negative	-0.3%	Closed 14.375M-share offering at $1.20; net proceeds $16.1M.
Apr 09	Offering pricing	Negative	-1.9%	Priced 12.5M-share offering at $1.20; expected $15M gross proceeds.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Past Lucid common stock offerings around $1.00–$1.20 per share typically saw modest single-digit share price moves, with most reactions slightly negative to flat.

Recent Company History

Over the past year, Lucid has repeatedly used underwritten common stock offerings at prices near $1.00–$1.20 per share, generally for working capital and corporate purposes. Prior offerings in April 2025 and September 2025 raised between $15M and $26.9M in proceeds, often under an S-3 shelf. Price reactions have mostly been small, with four negative or flat moves and one modest gain, suggesting the market has treated these financings as routine but slightly dilutive.

Key Terms

underwritten registered direct offering, joint bookrunners, shelf registration statement, form s-3, +1 more

5 terms

underwritten registered direct offering financial

"announced the closing of its previously announced underwritten registered direct offering"

An underwritten registered direct offering is a way a company raises money by selling newly registered shares or bonds directly to selected investors, with an investment bank agreeing to buy and resell the securities so the company knows it will receive the cash. Think of the bank as a wholesaler that guarantees to take the inventory and find buyers; it speeds the sale but often means the securities are sold at a discount, which can dilute existing shareholders and affect the stock price.

joint bookrunners financial

"Canaccord Genuity LLC and BTIG, LLC acted as joint bookrunners for the offering."

Joint bookrunners are the lead banks or brokers who share responsibility for organizing and selling a new offering of securities, like shares or bonds. Think of them as co-hosts of a big sale who coordinate pricing, gather investor interest (the “order book”), and split the work and risk—investors watch who the joint bookrunners are because their reputation and effort influence how smoothly the deal is priced, how widely it’s distributed, and how likely it is to succeed.

shelf registration statement regulatory

"The securities were offered pursuant to a shelf registration statement on Form S-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

"shelf registration statement on Form S-3 (File No. 333-291981) declared effective"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

"A final prospectus supplement and accompanying prospectus relating to the offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, April 24, 2026 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced the closing of its previously announced underwritten registered direct offering of 18,000,000 common shares at a purchase price of $1.00 per share, anchored by a $15 million investment from a fundamental institutional investor with support from a large existing shareholder.

The gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $18 million. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

Canaccord Genuity LLC and BTIG, LLC acted as joint bookrunners for the offering.

The securities were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-291981) declared effective by the Securities and Exchange Commission on March 26, 2026. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC. Electronic copies of the final prospectus may be obtained on the SEC's website at http://www.sec.gov and may also be obtained from Canaccord Genuity LLC, Attn: Syndication Department, 1 Post Office Square, 30th Floor, Boston, MA 02109, or by email at prospectus@cgf.com or BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at btig-ibd-equitycapitalmarkets@btig.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or other 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. 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lucid-diagnostics-announces-closing-of-18-million-underwritten-offering-of-common-stock-302753005.html

SOURCE Lucid Diagnostics

FAQ

What did Lucid Diagnostics (LUCD) announce in the April 24, 2026 offering?

Lucid Diagnostics closed a registered direct offering of 18,000,000 common shares at $1.00 per share. According to the company, the offering generated approximately $18 million in gross proceeds, anchored by a $15 million institutional investment.

How will Lucid Diagnostics (LUCD) use the net proceeds from the $18 million offering?

The company intends to use net proceeds for working capital and general corporate purposes. According to the company, no further allocation detail was provided in the announcement and offering expenses will reduce net proceeds.

Who anchored the LUCD offering and who acted as bookrunners?

A fundamental institutional investor anchored the transaction with support from a large existing shareholder. According to the company, Canaccord Genuity LLC and BTIG, LLC acted as joint bookrunners for the offering.

How many shares did Lucid Diagnostics issue and at what price in the registered direct offering?

Lucid issued 18,000,000 common shares at a purchase price of $1.00 per share. According to the company, the offering produced approximately $18 million in gross proceeds before fees and expenses.

Where was the LUCD offering registered and how can investors obtain the prospectus?

The securities were offered under a shelf registration on Form S-3 declared effective on March 26, 2026. According to the company, the final prospectus is filed with the SEC and available via the SEC website or from the joint bookrunners.