BMRA - Biomerica raises $8M capital via stock offering

• Biomerica ( NASDAQ: BMRA ) has priced its public offering of ~3.3M shares of common stock at $2.40 per share, for gross proceeds of ~$8M.
• Craig-Hallum Capital Group is acting as sole managing underwriter for the offering.
• Net proceeds will be used for general corporate purposes, including, conducting clinical studies, expanding sales and marketing activities for existing and new products, R&D, acquisitions, capital expenditures, and for other general working capital needs.
• Closing date is March 7, 2023.
• Shares down 2.5% premarket at $2.71.
• Previously (March 2): Biomerica stock slumps ~18% after hours on proposed public stock offering

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