Lucid Diagnostics Closes $18M Equity Offering with $15M Institutional Anchor
Lucid Diagnostics closed an underwritten direct offering of 18 million common shares at $1.00 per share, raising gross proceeds of $18 million. The round was anchored by a $15 million institutional investment and proceeds will fund working capital and general corporate purposes.
1. Offering Details
Lucid Diagnostics closed an underwritten registered direct offering of 18 million common shares at $1.00 per share, generating approximately $18 million in gross proceeds. Canaccord Genuity and BTIG served as joint bookrunners under the Company's S-3 shelf registration.
2. Institutional Anchor and Terms
The offering was anchored by a $15 million commitment from a fundamental institutional investor, supplemented by a large existing shareholder. Underwriting discounts and commissions will reduce net proceeds before allocation.
3. Use of Proceeds and Corporate Impact
Net proceeds will be allocated toward working capital and general corporate purposes, strengthening liquidity for ongoing operations. The additional capital aims to support commercialization of the EsoGuard test and enhance the Company's financial flexibility.