InvestmentMay 21, 2026, 08:07 AM
Co-Diagnostics Announces $3.0M Private Placement
AI Summary
Co-Diagnostics, Inc. entered into a private placement transaction to raise $3.0 million in gross proceeds, before deducting fees and expenses. The company intends to use the net proceeds for general corporate purposes and working capital. As part of the private placement, Co-Diagnostics agreed to issue 54,915 shares of common stock, pre-funded warrants to purchase 1,592,532 shares of common stock, and common warrants to purchase 3,294,894 shares of common stock. Maxim Group LLC acted as the exclusive placement agent for the transaction, which is expected to close on May 21, 2026.
Key Highlights
- Secured $3.0 million in gross proceeds through a private placement.
- Issued 54,915 shares of common stock.
- Issued pre-funded warrants to purchase 1,592,532 shares of common stock at an exercise price of $0.0001.
- Issued common warrants to purchase 3,294,894 shares of common stock at an exercise price of $1.571.
- The purchase price per unit (common stock and common warrant) was $1.821.
- Net proceeds will be used for general corporate purposes and working capital.
- Maxim Group LLC received a 7.0% cash fee and $50,000 for expenses.
- Company officers and directors agreed to a 60-day lock-up period on securities.
- The company agreed to file a registration statement for the resale of the securities.
Price Impact
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