Biomerica Announces Proposed Underwritten Public Offering of Common Stock

About this update from Biomerica, Inc.

[{"type":"text","content":"IRVINE, Calif., March 02, 2023 (GLOBE NEWSWIRE) -- Biomerica, Inc. (NASDAQ: BMRA) (“Biomerica”), a global provider of advanced medical products, announced today that it has commenced an underwritten public offering of its common stock. All shares of common stock in the proposed offering are being offered by Biomerica. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Craig-Hallum Capital Group LLC is acting as sole managing underwriter for the proposed offering. Biomerica intends to use the net proceeds of the offering for general corporate purposes, including, without limitation, setting up and conducting clinical studies, expanding sales and marketing activities for existing and new products, research and development of new products, acquisitions, capital expenditures, and for other general working capital needs. The shares of common stock described above are being offered by Biomerica pursuant to a shelf registration statement on Form S-3 (File No. 333-239980), which was previously filed with the Securities and Exchange Commission (the “SEC”) on July 21, 2020, and amended by a pre-effective amendment filed with the SEC on September 11, 2020, and subsequently declared effective by the SEC on September 30, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. When available, electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at (612) 334-6300 or by email to [email protected]. Before investing in the proposed offering, you should read in their entirety the preliminary prospectus supplement, the accompanying prospectus and the other documents that Biomerica has filed with the SEC and that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about Biomerica and the proposed offering. This press release shall not constitute an offer to sell or the solici...

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