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Co-Diagnostics Files to Sell Up to $25M in Stock

NEW YORK (GenomeWeb) — Co-Diagnostics announced today that it has filed with the US Securities and Exchange Commission to sell up to $25 million of its shares.

The filing was made as a Form S-3 shelf registration statement, and follows Co-Diagnostics' close of a $2 million non-convertible debt instrument earlier this month. In that transaction, the company issued one of its shareholders a $2 million promissory note in exchange for a loan for the same amount.

Last month, Co-Diagnostics also received CE marking for its Logix Smart MTB Test for diagnosing tuberculosis.

"This Form S-3 shelf registration statement enhances the company's financial flexibility in the event appropriate opportunities present themselves," Co-Diagnostics CEO Dwight Egan said in a statement.