Chembio Prices 1.2M Share Offering at $5.00/Share

CHEMBIO DIAGNOSTICS

today announced that it has priced an underwritten public offering of 1,200,000 shares of its common stock. Each share of common stock sold in this offering will be sold for $5.00 per share. The net proceeds of the offering, after deducting the underwriters' discounts and other estimated offering expenses payable by the Company, will be approximately $5.5 million.  The Company intends to use the net proceeds from this offering for business expansion and working capital. The Company expects to close the transaction, subject to customary conditions, on or about April 3, 2013. Craig-Hallum Capital Group LLC is the sole book-running manager for the offering with The Benchmark Company, LLC serving as a co-manager for the offering. A shelf registration statement (File No. 333-185932) relating to these securities was previously filed with, and declared effective by, the U.S. Securities and Exchange Commission. A preliminary prospectus supplement related to the offering was filed with the U.S. Securities and Exchange Commission on March 27, 2013. A final prospectus supplement describing the terms of the offering will be filed with the U.S. Securities and Exchange Commission and will form a part of the effective registration statement. Copies of