- Chembio Diagnostics (NASDAQ:CEMI) has commenced public offering of $25M of its common stock.
- Underwriters over-allotment is an additional 15% of the number of shares of its common stock.
- The company intends to use the net proceeds from the offering to fund the proposed acquisition of opTricon GmbH announced by the Company earlier today, to support its business growth strategy, including increasing the size of its global sales force, broadening U.S. manufacturing automation, expanding and improving its facilities, and advancing its product development efforts, and for general corporate purposes.