Co-Diagnostics (CODX) $5 Million Registered Direct Offering of Common Stock

Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced that it has entered into definitive agreements with institutional investors for the purchase of 3,448,278 shares of its common stock, at a purchase price per share of $1.45, in a registered direct offering priced at-the-marked under the Nasdaq rules. The closing of the offering is expected to occur on or about January 28, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive lead placement agent for the offering. Maxim Group LLC is acting as co-placement agent.

The gross proceeds to the Company, before deducting placement agent fees and other offering expenses, are expected to be approximately $5.0 million. Co-Diagnostics intends to use the net proceeds from this offering for further commercialization and expansion of its infectious disease testing, agrigenomics, and vector control verticals, acceleration of sales and technology licensing activities, ongoing development of additional applications for its technology in markets related to liquid biopsy and next-gen sequencing, and for working capital and other general corporate purposes.

The shares of common stock are being offered by Co-Diagnostics pursuant to a "shelf" registration statement on Form S-3 that was originally filed on August 14, 2018 and declared effective by the Securities and Exchange Commission ("SEC") on September 7, 2018, and the base prospectus contained therein (File No. 333-226835).

You May Also Be Interested In

• Viper Energy files SEC prospectus for resale of 3.69M shares
• Pembina joins proposed 1M bbl/day Alberta-to-coast pipeline plan
• Enanta Pharmaceuticals sets up $75M at-the-market stock offering