Lucid, Inc. Announces Closing of Public Offering

| January 4, 2012

PRESS RELEASE

Dec. 30, 2011, 12:46 p.m. EST

ROCHESTER, N.Y., Dec 30, 2011 (BUSINESS WIRE) — Lucid, Inc. LCDCU 0.00% today announced that it has closed its previously announced underwritten public offering of 1,388,000 units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. Net proceeds received by Lucid were approximately $5.30 million, after deducting the underwriting discount and corporate finance fee, but before taking into account estimated offering expenses. The Company has granted the underwriters a 45 day option to purchase an additional 208,200 units to cover over-allotments, if any.

The Company will use the net proceeds to repay certain indebtedness and to fund its continuing operations.

Roth Capital Partners acted as the sole book-running manager for the offering and Maxim Group LLC acted as co-manager.

The securities were offered by the Company pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Before investing, you should read the prospectus and other documents filed with the SEC for information about the Company and the offering. A copy of the final prospectus relating to the offering may be obtained, when available, on the SEC's web site at http://www.sec.gov under the registrant's name, "Lucid Inc." Copies of the prospectus may also be obtained from Roth Capital Partners, LLC, Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com.

About Lucid, Inc.

Lucid, Inc. is a leader in noninvasive skin cancer imaging and diagnosis through the use of its FDA cleared VivaScope(R) confocal imagers and its innovative VivaNet(R) telepathology system that allows secure, HIPAA compliant, near real-time collaboration between dermatologists and pathologists. VivaNet(R) provides rapid online medical image transfer storage and retrieval, enabling critical collaborative consultations at the point and time of care. Lucid's VivaScopes(R) provide images that physicians can use to form critical medical decisions in cases of melanoma and other skin cancers while ensuring patient comfort and peace of mind. You can learn more about the Company and its innovative products at www.lucid-tech.com.

VivaScope(R) and VivaNet(R) are registered trademarks of Lucid, Inc.

 


Category: Pathology News

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