Co-Diagnostics entered into an inducement agreement with existing warrant holders to exercise warrants for up to 1,702,362 shares at $1.571 per share, generating approximately $2.67 million in gross proceeds. In exchange, the company issued new warrants to purchase up to 3,404,724 shares at an exercise price of $1.56 per share. The transaction requires stockholder approval for the exercise of the new warrants and includes a lock-up preventing further equity issuances until August 31, 2026. Co-Diagnostics operates in the diagnostics industry.