PAVmed Provides Additional Details For Upcoming Stock Dividend To Shareholders; PAVmed Shareholders As Of January 15, 2024 Will Participate In Distribution Of ~3.3M Shares Of Lucid Common Stock
Portfolio Pulse from Benzinga Newsdesk
PAVmed Inc. (NASDAQ:PAVM) has provided additional details regarding the distribution of approximately 3.3 million shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) common stock to its shareholders. Shareholders on record as of January 15, 2024, will receive about 41 shares of LUCD for every 100 shares of PAVM they own. The distribution is expected to occur within 30 days of the record date. PAVmed recently underwent a reverse stock split and has about 8.1 million shares outstanding.
December 11, 2023 | 2:18 pm
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NEUTRAL IMPACT
Lucid Diagnostics will see an increase in its shareholder base due to the stock dividend from PAVmed, which may lead to increased visibility and potentially higher volatility in the short term.
The distribution of LUCD shares to PAVmed shareholders will increase the number of LUCD shareholders, which could lead to greater stock visibility in the market. However, the impact on the stock price is uncertain, as it could lead to both increased buying interest or increased selling pressure from the new shareholders.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PAVmed shareholders will receive a dividend in the form of Lucid Diagnostics stock, which could potentially increase interest in PAVM shares in the short term.
The announcement of a stock dividend typically generates positive sentiment among shareholders, as it is perceived as a direct value transfer. The short-term impact on PAVM could be an increase in stock price due to this positive sentiment and potential increased demand from investors wanting to qualify for the dividend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100