Cancer diagnostics company Lucid Diagnostics Inc (Nasdaq:LUCD) said on Wednesday that it has priced its initial public offering (IPO) of 5,000,000 shares of its common stock.

All of the shares in the IPO are being offered by the company at a price of USD14.00 per share for expected gross proceeds of USD70m, before deducting underwriting discounts, commissions and other offering expenses.

The company has provided the underwriters with a 30-day option to purchase up to an additional 750,000 shares of common stock from Lucid at the initial public offering price less underwriting discounts and commissions.

For the offering, Cantor and Canaccord Genuity are acting as joint book-running managers. BTIG and Needham & Company are acting as co-lead managers. The offering is expected to close on or about 18 October 2021, subject to the satisfaction of customary closing conditions.