Biomerica closes $8M public offering of 3.33M shares at $2.40/share

BIOMERICA INC

Raised $8M gross, ~$7.4M net from 3,333,333 shares at $2.40/share via Craig-Hallum.
Net proceeds for clinical studies, sales expansion, R&D, acquisitions, and working capital.
Directors and officers agreed to 90-day lock-up on stock sales post-closing.
Offering closed March 7, 2023; underwriter discount 6%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BIOMERICA INC entered into Underwriting Agreement with Craig-Hallum Capital Group LLC valued at 3,333,333 shares of Common Stock at $2.40 per share (effective 2023-03-03).

Action: entry
Agreement: underwriting
Counterparty: Craig-Hallum Capital Group LLC
Value: 3,333,333 shares of Common Stock at $2.40 per share
Effective: 2023-03-03

Exact text from the filing

On March 3, 2023, Biomerica, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Craig-Hallum Capital Group LLC (the “Underwriter”), relating to the issuance and sale in an underwritten public offering (the “Offering”) of an aggregate of 3,333,333 shares of the Company’s common stock, par value $0.08 per share (“Common Stock”).

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272 material agreements filed in the last 30 days. Browse all material agreements →

BIOMERICA INC filing history →

Source: SEC EDGAR

accession 0001513162-23-000034

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