Financing ·
Lucid raises $15M via Series C convertible preferred stock at $0.3519 conversion price
LUCDLucid Diagnostics Inc.
Lucid Diagnostics raised approximately $15 million by selling 15,000 shares of newly designated Series C Convertible Preferred Stock to accredited investors on October 21, 2026. The shares carry a stated value of $1,000 and convert into common stock at an initial price of $0.3519 per share. The issuance triggers a reduction in the conversion price of existing senior secured convertible notes due 2029 to match this new floor. Holders are entitled to cumulative dividends payable in shares or cash, with a mandatory conversion feature if the common stock VWAP reaches $5.00 for 20 out of 30 consecutive trading days after 24 months. The company operates in the diagnostic testing industry.