Atomo Diagnostics Opens Discounted Share Purchase Plan to Fund Growth Push

Atomo Diagnostics Ltd. ( (AU:AT1) ) just unveiled an announcement.

Atomo Diagnostics has launched a share purchase plan for eligible Australian and New Zealand shareholders, following a recent placement, as part of a broader capital raising of up to $4 million. The plan aims to raise up to $1 million at $0.033 per share, a discount to the recent volume-weighted average price, with applications between $1,000 and $30,000 and one free unlisted option for every two new shares subscribed.

The company may scale back or increase the SPP depending on demand, and participation is voluntary for shareholders on the register at the March 27 record date. Proceeds from the capital raising will fund the commercial expansion of Atomo’s proprietary diagnostic tests, support operational scale-up to meet growing US demand for Pascal cassettes used in Lumos’ FebriDx product, and bolster working capital, signalling a push to capitalise on rising international demand for its rapid testing technologies.

More about Atomo Diagnostics Ltd.

Atomo Diagnostics is an Australian-headquartered medical device company specialising in integrated rapid diagnostic test devices for global point-of-care and at-home use. Its patented platforms support tests for infectious diseases such as HIV and active syphilis, liver function, viral versus bacterial differentiation and early pregnancy detection, with products already commercialised under international supply agreements.

Average Trading Volume: 2,349,202

Technical Sentiment Signal: Hold

Current Market Cap: A$25.23M

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