Co-Diagnostics secures $3M through a private placement of 1.65M shares and warrants for up to 3.29M additional shares.
Co-Diagnostics (CODX) climbed 11% following the announcement of a $3M private placement with institutional investors. The deal includes 1.65M shares of common stock or pre-funded warrants, alongside warrants for up to 3.29M additional shares.
The placement aims to bolster the company’s capital position without disclosing prior funding rounds or consensus expectations. The warrants carry terms that were not fully detailed in the release.
Shares reacted positively to the news, reflecting investor confidence in the capital raise.