Lucid Diagnostics Raises $15M in Series C Preferred Priced at $0.3519 Conversion
LUCD sits 18% above its 52-week low of $0.303 on elevated volume (4.6× avg).
Summary
Lucid raised $15.0 million selling 15,000 Series C convertible preferred shares at $1,000 each, convertible at $0.3519 — roughly 42.6 million common shares on full conversion — with a 20% stock dividend and a matching reset of its 2029 note conversion price.
Key Events · Financing and Capital Events · LUCD
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Series C Preferred Raises $15.0M
15,000 Series C convertible preferred shares sold at $1,000 per share for approximately $15.0 million gross; the deal closed October 21, 2026.
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Conversion Implies ~42.6M Shares
At the $0.3519 conversion price, the $15.0 million stated value converts into about 42.6 million common shares (15,000 x $1,000 / $0.3519), before any dividend shares.
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20% Stock Dividend and 300% Preference
Holders receive a 20% annual dividend paid in common stock each quarter from December 31, 2026 to March 31, 2030, plus a liquidation preference of 300% of stated value.
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Existing Notes Repriced to $0.3519
The conversion price on the 12.0% senior secured convertible notes due 2029 drops to $0.3519 to match the Series C, improving noteholder conversion economics.
Analysis · LUCD · Industrial Applications And Services
The terms are expensive. Lucid sold 15,000 Series C preferred shares at $1,000 each for $15.0 million gross, and the conversion price of $0.3519 sits essentially at today's $0.3584 quote. That means the stated value converts into roughly 42.6 million common shares (15,000 x $1,000 / $0.3519) — a large slug of new stock for a company that already carries going-concern doubt and a Nasdaq bid-price deficiency notice from October 12. On top of the equity, holders earn a 20% annual dividend paid in stock, hold a 300% liquidation preference, and can appoint a director. The same $0.3519 price also resets the conversion price on the existing 12.0% senior secured convertible notes due 2029, so the noteholders' effective conversion economics improve too. The cash buys runway, and the filing says the Medicare payment from Novitas resolved the note default concern, but the cost is heavy dilution layered on an already diluted share count.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.9% of the 1013 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.77%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LUCD was trading at $0.36 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $66.6M. The 52-week trading range was $0.30 to $1.63. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.