Biomerica Announces $2.0 Million Investment by Palm Global Small Cap Master Fund

IRVINE, Calif., Feb. 26, 2020 (GLOBE NEWSWIRE) — Biomerica Inc. (NASDAQ: BMRA) (the ?Company? or ?Biomerica?) announced today that the Company completed a private placement of $2 million of convertible preferred stock with Palm Global Small Cap Master Fund LP (“Palm”).? The preferred shares are initially convertible into shares of the Company’s common stock at a price of $3.50 per share.? This represents a premium to the market price of the Company?s common stock at the time of closing.