Co-Diagnostics, which is commercializing diagnostic equipment for DNA tests, raised $7.1 million on Wednesday by offering 1.18 million shares at $6.00. At IPO, the pre-revenue company commanded a fully diluted market cap of $68 million.
It originally planned to raise $8.5 million by offering 1.3 million shares at a range of $6.35 to $6.75.
The company also began trading on the Nasdaq on Wednesday under the symbol CODX; it closed at $5.81, down 3.2% on its first day.
WallachBeth Capital and Network 1 Financial Securities acted as lead managers on the deal.
