Co-Diagnostics, Inc. (CODX), a molecular diagnostics company, announced that it has entered into a securities purchase agreement with certain institutional investors to sell an aggregate of 1.65 million shares of common stock or pre-funded warrants, together with warrants to purchase up to an aggregate of 3.295 million shares of common stock, in a private placement.
The offering is expected to generate gross proceeds of approximately $3 million and is scheduled to close on or about May 21, 2026.
The combined offering price for each share of common stock or pre-funded warrant, and the accompanying warrants to be issued, is $1.821.
The warrants will have an exercise price of $1.571 per share and will be exercisable immediately upon issuance, and will expire five years from the date of issuance.
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
CODX has traded between $1.26 and $46.50 over the last year. The stock closed Tuesday's trade at $1.97, up 43.80%.
In the overnight market, CODX is down 0.51% at $1.96.
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