Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market
for Common Equity
Our
common stock is traded on the Nasdaq Global Market under the symbol “LUCD”.
Holders
As of March 9, 2023, there were 43,393,716 shares of our common stock
issued. Our shares of common stock are held by an estimated 19 holders of record and we believe our shares of common stock are held
by significantly more beneficial owners.
Dividends
We
have not paid any cash dividends on our common stock to date. Any future decisions regarding dividends will be made by our board of directors.
We do not anticipate paying dividends in the foreseeable future but expect to retain earnings to finance the growth of our business.
Our board of directors has complete discretion on whether to pay dividends. Even if our board of directors decides to pay dividends,
the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial
condition, contractual restrictions and other factors the board of directors may deem relevant.
Recent
Sales of Unregistered Securities and Use of Proceeds
Except
as previously disclosed in our current reports on Form 8-K and quarterly reports on Form 10-Q, and except as disclosed below, we did
not sell any unregistered securities or repurchase any of our securities during the fiscal year ended December 31, 2022.
On
October 14, 2021, we completed our initial public offering (“IPO”) of our common stock under an effective registration statement
on Form S-1 (SEC File No. 333-259721). As of December 31, 2022, of the net proceeds of $64.4 million, approximately $43.7 million has
been used, in a manner consistent with the use of proceeds set forth in the prospectus for our IPO, as follows: approximately $5.3 million
of net repayments of Due To: PAVmed Inc.; approximately $5.0 million for the purchase of our laboratory equipment, software, and its
operating expenses; and $33.4 million of working capital expenditures. None of the proceeds have been paid to any of our directors, officers,
10% stockholders, or affiliates, other than as described above.
Item
6. [Reserved]
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