PAVmed announces efforts to regain Nasdaq compliance

PAVmed (PAVM) announced that, as part of its efforts to regain compliance with Nasdaq’s listing requirements, Lucid Diagnostics (LUCD) will be deconsolidated from PAVmed’s financial statements. As a result, PAVmed will no longer report consolidated financials reflecting Lucid’s operating losses. PAVmed’s holdings of Lucid common stock remain unchanged, and the value of these holdings will be reported going forward as an asset on its balance sheet, substantially increasing the Company’s stockholder’s equity. The deconsolidation was effectuated by changing the composition of PAVmed’s board of directors and as a result of it no longer controlling a majority of the voting interests in Lucid. The deconsolidation does not affect PAVmed’s holdings of Lucid common stock and PAVmed remains Lucid’s largest shareholder.