Lucid Announces Closing of Public Offering

Published: Jan 03, 2012

ROCHESTER, N.Y.--(BUSINESS WIRE)--Lucid, Inc. (OTCBB: LCDCU) 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.

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