BIOMERICA INC (BMRA) Form 8-K — Aug 26, 2026
Biomerica closed a $2.23 million private placement on August 26, 2026, selling 1,393,705 common shares at $1.60 per share to institutional and individual investors, including B. Riley Principal Capital and certain of the Company's own directors and executive officers. The deal grants B. Riley Principal Capital the right to designate one board director for as long as it holds at least 10% of the voting power, and the board cannot grow beyond five members without that representative's consent.
Key figures
- Gross Proceeds
- approximately $2.23 million
- Offering Price
- 1.6
- Shares Offered
- 1393705
- Closing Date
- 2026-08-26
- Max Board Size
- 5
- Agreement Date
- 2026-08-20
- Exempt Issuance Cap
- $1,000,000 of Common Stock subject to B. Riley participation rights
- Liquidated Damages
- 1.0% of aggregate purchase price per failure, capped at 5.0% of subscription amount
- Company Lock Up Period
- 180 days
- Insider Lock Up Period
- 180 days
- Insider Participation
- Yes
- Authorized Common Shares
- 300000000
- Registration Filing Deadline
- 30 calendar days after Closing Date
- Registration Effectiveness Deadline
- 30 calendar days (60 if full SEC review)
- Board Designation Ownership Threshold
- 10% of voting power
Price after filing
Close on the filing date to close N calendar days later (from $1.69). Historical, not a forecast.
AI analysis
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