Biosynex extends tender offer for shares of Chembio Diagnostics

Biosynex announced that Project Merci Merger Sub, a Nevada corporation and its wholly-owned indirect subsidiary, 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 April 12, 2023, unless further extended. The tender offer was previously scheduled to expire at 6:00 p.m., New York City time, on March 28, 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 6:00 p.m., New York City time, on March 28, 2023, approximately 14,137,808 Shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 38.5% of the Shares then outstanding.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. Completion of the tender offer remains subject to additional conditions described in the Tender Offer Statement on Schedule TO filed by Purchaser and Biosynex with the U.S. Securities and Exchange Commission on February 14, 2023.