Lucid Diagnostics’ Initial Public Offering

Friedman Kaplan advised PAVmed Inc. and its majority-owned subsidiary Lucid Diagnostics Inc. on the public offering.

Lucid Diagnostics Inc. (Nasdaq: LUCD),  a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ) 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.

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.

Lucid Diagnostics Inc. focuses on the millions of patients with gastroesophageal disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. 

The Friedman Kaplan team comprised of corporate partner Michael Gordon (Picture)

Involved fees earner: Michael Gordon – Friedman Kaplan Seiler & Adelman LLP;

Law Firms: Friedman Kaplan Seiler & Adelman LLP;

Clients: Lucid Diagnostics Inc.; PAVmed Inc. ;

Author: Sonia Carcano