Biomerica (NASDAQ: BMRA) said  on Thursday it agreed to sell 1.39M shares at $1.60 each in a private placement, expected to raise $2.23M in gross proceeds. – The offering is priced at $1.60/share with no warrants or discount. – The company expects approximately 4.59M shares…
tstanding pro forma, with the newly issued shares representing 30.4% of pro forma shares outstanding. – The company intends to use the proceeds to strengthen its balance sheet, fund operations, and evaluate strategic opportunities. – B. Riley Principal Capital, B
Riley executives and employees, and Biomericaâs CEO along with the Board members participated in the financing. – Share -4.53%