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Stock impact report

Lucid Diagnostics to be deconsolidated from PAVmed's financial statements [Seeking Alpha]

PAVmed Inc. (PAVM) 
US:NASDAQ Investor Relations: ir.pavm.com
Company Research Source: Seeking Alpha
As a result, PAVmed will no longer report consolidated financials reflecting Lucid's operating losses. PAVmed's holdings of Lucid common stock ( LUCD ) 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, PAVmed ( PAVM ) said. "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." Efforts also include appointment of seasoned biotech investor Sundeep Agrawal, M.D. to board to replace departing directors. The deconsolidation does not affect PAVmed's holdings of Lucid common stock and PAVmed remains Lucid's largest shareholder. It is also the first in a series of steps that the company is seeking to take in order to regain compliance with the Nasdaq continued listing standards. Recommended For You More Trending News Recomm Show less Read more
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