Business
Co-Diagnostics Announces Closing of $5 Million Registered Direct Offering Priced At-the-Market
SALT LAKE CITY--(BUSINESS WIRE)-- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development
About this update from Co-diagnostics, Inc.
[{"type":"text","content":" SALT LAKE CITY--(BUSINESS WIRE)--\nCo-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of 3,448,278 shares of common stock for a purchase price of $1.45 per share, for gross proceeds of approximately $5.0 million.\n\n\nH.C. Wainwright & Co. acted as the exclusive lead placement agent for the offering. Maxim Group LLC acted as co-placement agent.\n\n\nCo-Diagnostics intends to use the net proceeds from this offering for further commercialization and expansion of its infectious disease testing, agrigenomics, and vector control verticals, acceleration of sales and technology licensing activities, ongoing development of additional applications for its technology in markets related to liquid biopsy and next-gen sequencing, and for working capital and other general corporate purposes.\n\n\nThe shares of common stock offered in the registered direct offering were offered and sold by Co-Diagnostics pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-226835), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on September 7, 2018. The offering of the shares of common stock was made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying base prospectus may also be obtained from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected].\n\n\nThis press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nAbout Co-Diagnostics, Inc.:\n\n\n...