Deal with $874,440 greenshoe slated to fund launch of VivaNet Solution
By Devika Patel
Knoxville, Tenn., Dec. 29 - Lucid, Inc. priced its $5.83 million initial public offering of units with an $874,440 greenshoe in a prospectus filed Thursday with the Securities and Exchange Commission.
The company will sell 1,388,000 units of one common share and one warrant at $4.20 per unit, with each warrant exercisable at $5.04 until Dec. 29, 2016.
Roth Capital Partners and Maxim Group LLC are the underwriters. Settlement is expected Dec. 30.
Proceeds will be used to launch the company's VivaNet Solution, for research and development and for working capital and other general corporate purposes.
The medical device and information technology company is based in Rochester, N.Y. It expects its shares to trade on the over-the-counter bulletin board under the symbol "LCDCU."
| Issuer: | Lucid, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $5,829,600
|
| Greenshoe: | $874,440
|
| Shares: | 1,388,000
|
| Price: | $4.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Dec. 29, 2016
|
| Warrant strike price: | $5.04
|
| Underwriters: | Roth Capital Partners and Maxim Group LLC
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 30
|
| Stock symbol: | OTCBB: LCDCU
|
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