Lucid Diagnostics closes $28.8 million stock offering

Lucid Diagnostics Inc. (NASDAQ: LUCD) completed its underwritten public offering of 28.75 million shares of common stock at $1.00 per share, the company announced September 11. The offering included 3.75 million shares from the full exercise of underwriters' option to purchase additional shares.

The medical diagnostics company expects to receive approximately $26.9 million in net proceeds after deducting underwriting discounts, commissions and other estimated offering expenses. Lucid plans to use the funds for working capital and general corporate purposes.

Canaccord Genuity LLC and BTIG, LLC served as joint bookrunners for the offering, while Maxim Group LLC acted as co-manager.

The securities were offered under a shelf registration statement on Form S-3 that the Securities and Exchange Commission declared effective on December 6, 2022. A prospectus supplement was filed with the SEC on September 10, 2025.

Lucid Diagnostics is a subsidiary of PAVmed Inc. (NASDAQ: PAVM) and focuses on cancer prevention diagnostics for patients with gastroesophageal reflux disease who face increased risk of developing esophageal precancer and cancer. The company markets the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device for early detection of esophageal precancer.

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