News & Events zu Biomerica Inc (BMRA)BMRABiomerica Inc

Biomerica Files $250M Mixed Securities Shelf

Biomerica files $250M mixed securities shelf

Selling Stockholders Plan to Sell 1.4M Shares of Common Stock

This filing relates to the offer and sale from time to time by the selling stockholders of up to 1.4M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.

Biomerica Completes Private Placement of 1,393,705 Shares, Raising Approximately $2.23M

Biomerica announced that it has entered into definitive agreements with institutional and individual investors for a private placement of 1,393,705 unregistered shares of the company's common stock at a price of $1.60 per share, expected to provide approximately $2.23M in gross proceeds to the company. The financing was priced at $1.60 at the time the definitive agreements were entered into and includes no warrants or discounted securities. Participation in the financing included B. Riley Principal Capital , certain executives and employees of B. Riley Securities, the company's Chief Executive Officer, and all members of the company's Board of Directors, reflecting meaningful alignment between outside investors and company leadership. Following the closing of the financing, the company expects to have approximately 4,588,968 shares of the company's common stock outstanding on a pro forma basis, with the shares issued in the financing representing approximately 30.4% of pro forma shares outstanding. The company intends to use the proceeds to strengthen its balance sheet and fund operations as its Board of Directors continues to evaluate a range of potential strategic opportunities intended to maximize shareholder value.