PAVmed's Lucid Diagnostics Raises $15.0M in Series C Preferred at $1,000/Share
PAVM is trading near its 52-week low of $2.04 (0.5% above the low).
Summary
Lucid Diagnostics, PAVmed's subsidiary, sold 15,000 Series C convertible preferred shares at $1,000 each for $15.0 million gross, closing October 21, 2026. PAVmed issued no securities, and the filing does not state how much of the proceeds reach the parent.
Key Events · Financing and Capital Events · PAVM
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Lucid Subsidiary Sells $15.0M Preferred
Lucid Diagnostics sold 15,000 shares of newly designated Series C Convertible Preferred at $1,000 per share for $15.0 million gross, with closing on October 21, 2026.
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Parent Issued No Securities
The offering came from the subsidiary, not PAVmed; the filing does not state how much of the $15.0M is available to the parent or on what terms.
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Resale Registration Required
Lucid agreed to file a registration statement covering resale of the common stock issuable on conversion of the Series C preferred, creating a future tradable overhang at the subsidiary.
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Conversion Terms Not Disclosed
The 8-K incorporates the Series C terms by reference to Lucid's own October 22, 2026 8-K and states no conversion price, so dilution to Lucid common holders is unquantified here.
Analysis · PAVM · Industrial Applications And Services
The cash here went to the subsidiary, not the parent: Lucid Diagnostics sold 15,000 Series C preferred shares at $1,000 each for $15.0 million gross, closing the same day, while PAVmed itself issued no securities. That is roughly nine times PAVmed's entire market value arriving at the subsidiary level, and it lands against a Q2 10-Q that carried a going concern warning, a covenant amendment requiring a $5M deposit by August 25, and a fully used-up ATM. How much of the $15.0M flows up to the parent is not stated, nor is the Series C conversion price, so dilution to Lucid common holders and any PAVmed benefit remain unquantified. A registration rights agreement puts the underlying Lucid common shares into a resale registration, adding a future tradable overhang at the subsidiary.
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, PAVM was trading at $2.05 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $16.4M. The 52-week trading range was $2.04 to $28.44. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.