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Chembio Diagnostics Inc Announces Pricing Of $6.0 Million Public Offering Of Common Stock

Thursday, 28 Mar 2013 06:15am EDT 

Chembio Diagnostics Inc announced that it has priced an underwritten public offering of 1,200,000 shares of common stock. Each share of common stock sold in this offering will be sold for $5.00 per share. The net proceeds of the offering, after deducting the underwriters' discounts and other estimated offering expenses payable by the Company, will be approximately $5.5 million. The Company intends to use the net proceeds from this offering for business expansion and working capital. The Company expects to close the transaction, subject to customary conditions, on or about April 3, 2013. Craig-Hallum Capital Group LLC is the sole book-running manager for the offering with The Benchmark Company, LLC serving as a co-manager for the offering. 

Company Quote

0.04 +1.05%
20 Oct 2014