Chembio Diagnostics urges stockholders to tender shares

The company said, "We strongly urge you to tender your shares of common stock of Chembio Diagnostics in the tender offer being made by Biosynex and its affiliates. The tender offer is the first step in a proposed merger between Chembio and Biosynex. Biosynex has agreed to pay $0.45 per share in cash to each of our stockholders who tender their shares prior to the expiration of the tender offer. The tender offer expires at 6:00 p.m. New York City time on April 26, 2023. Biosynex previously announced extensions of the tender offer until 6:00 p.m., New York City time, on March 28, 2023, and until 6:00 p.m., New York City time, on April 12, 2023. As of 6:00 p.m., New York City time, on April 12, 2023, approximately 17,738,529 shares had been validly tendered and not validly withdrawn from the tender offer, representing approximately 48.3% of the shares then outstanding. On April 13, 2023, Biosynex announced a third extension of the tender offer until 6:00 p.m., New York City time, on April 26, 2023. If less than a majority of the outstanding shares of Chembio common stock are tendered, the tender offer will not be completed and Chembio will not merge with Biosynex. Biosynex is not required to further extend the tender offer and may terminate the tender offer and the merger agreement if more than 50% of the outstanding shares are not validly tendered by 6:00 p.m., New York City time, on April 26, 2023. Chembio management and the Board of Directors strongly support the tender offer and merger with Biosynex. We believe it is in the best interest of our stockholders and recommend that you tender your shares as soon as possible. We urge you to tender your shares today!"