Biosynex extends tender offer for shares of Chembio Diagnostics

Biosynex announced that Project Merci Merger Sub has extended the expiration time for the previously announced tender offer to purchase all of the issued and outstanding shares of common stock of Chembio Diagnostics, at a price of $0.45 per Share, net to the seller in cash, without interest and subject to any required tax withholding, until 6:00 p.m., New York City time on March 28, 2023, unless further extended. The tender offer was previously scheduled to expire at one minute after 11:59 p.m., New York City time, on March 14, 2023. All other terms and conditions of the tender offer remain unchanged. Securities Transfer Corporation, the depositary and paying agent for the tender offer, has indicated that, as of 11:59 p.m., New York City time, on March 14, 2023, approximately 12,664,710 Shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 34.5% of the Shares then outstanding. Stockholders who have already tendered their Shares into the tender offer do not have to re-tender their Shares or take any other action as a result of the extension of the expiration time of the tender offer.