Biomerica, Inc. (NASDAQ:BMRA) ("Biomerica" or the "Company"), a developer and manufacturer of diagnostic test systems, today announced that it has entered into definitive agreements with institutional and individual investors for a private placement of 1,393,705 unregistered shares of the Company’s common stock at a price of $1.60 per share, expected to provide approximately $2.23 million in gross proceeds to the Company.

The financing was priced at $1.60 at the time the definitive agreements were entered into and includes no warrants or discounted securities.