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Lucid Diagnostics (LUCD) just unveiled an update.
Lucid Diagnostics Inc. has secured approximately $11.6 million in gross proceeds through the sale of around 11,634 shares of its Series B-1 Convertible Preferred Stock to accredited investors at $1,000 per share. These shares, available from May 2024, will be senior to common stock and convertible into common shares under specific terms after six months, with conversion prices initially set at $0.7228. Investors will also enjoy dividends and voting rights on an “as converted” basis, with limitations to prevent exceeding 4.99% or 9.99% beneficial ownership. The transactions are exempt from registration under the Securities Act, and a registration statement will be filed for reselling the common shares obtained from conversions and dividend payments.
For an in-depth examination of LUCD stock, go to TipRanks’ Stock Analysis page.