Medical Device

Chembio Diagnostics (NASDAQ:CEMI) a leader in point-of-care diagnostic tests for infectious diseases, announced today that it has commenced an underwritten registered public offering of its common stock. In addition, Chembio intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the …

Chembio Diagnostics (NASDAQ:CEMI) a leader in point-of-care diagnostic tests for infectious diseases, announced today that it has commenced an underwritten registered public offering of its common stock. In addition, Chembio intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering to cover over-allotments, if any.

As quoted in the press release:

The proposed offering is subject to market and other conditions, as well as customary closing conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering. Craig-Hallum Capital Group LLC is acting as sole book-running manager for the proposed offering.

Click here to read the full press release.

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