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PAVmed shareholders as of January 15, 2024 will participate in distribution of approximately 3.3 million shares of Lucid common stock
NEW YORK, Dec. 11, 2023 /PRNewswire/ -- PAVmed Inc. (NASDAQ:PAVM, PAVMZ))) ("PAVmed" or the "Company"), a diversified commercial-stage medical technology company, operating in the medical device, diagnostics, and digital health sectors today provided additional details on the previously announced dividend of common stock of its majority-owned subsidiary, Lucid Diagnostics Inc. (NASDAQ:LUCD) for PAVmed shareholders.
On December 4, 2023, the Company announced that the PAVmed Board of Directors had declared a dividend of approximately 3.3 million shares of Lucid common stock with a record date of January 15, 2024. PAVmed has approximately 8.1 million shares outstanding following the reverse stock split announced on the same day. Each PAVmed shareholder as of the January 15, 2024 record date will receive a stock dividend of approximately 41 shares of Lucid common stock for every 100 shares of PAVmed common stock they own as of such date.
PAVmed expects the distribution to be made within 30 days of the January 15, 2024 record date.
