Atomo Raises $416,611 via Shortfall Placement Following $410k Lumos Order
Atomo Diagnostics has successfully placed $416,611.77 from its Share Purchase Plan shortfall, bolstered by a recent US order from Lumos Diagnostics. This capital injection strengthens Atomo’s position as it scales up production of its Pascal cassettes.
- Raised $416,611.77 from Share Purchase Plan shortfall placement
- Issued 22.5 million shares and equal number of options at $0.0185 per share
- Placement follows Lumos Diagnostics’ $410k order for Pascal cassettes
- Funds earmarked for working capital and ongoing business objectives
- Placement approved by shareholders at June Extraordinary General Meeting
Capital Raise Completes Share Purchase Plan Shortfall
Atomo Diagnostics Limited (ASX, AT1) has announced the successful placement of the remaining $416,611.77 shortfall from its recent Share Purchase Plan (SPP). This final tranche was placed with institutional and sophisticated investors, issuing 22.5 million shares alongside an equal number of options exercisable at $0.04 until August 2028. The placement price of $0.0185 per share matches the terms offered in the original SPP.
Momentum from Lumos Diagnostics Order
The placement follows a significant order from Lumos Diagnostics (ASX, LDX) for Atomo’s Pascal cassettes, valued at approximately US$410,000. This order is intended to support the scaling up of FebriDx® demand in the US market, highlighting growing international traction for Atomo’s rapid diagnostic devices. The inbound investor interest that led to the shortfall placement was directly influenced by this commercial development.
Strategic Use of Funds and Shareholder Support
Proceeds from the placement, together with previous capital raises including the initial SPP and a July shortfall placement, will be directed towards general working capital and advancing Atomo’s ongoing business objectives. The company’s shareholders had already approved the shortfall placement at an Extraordinary General Meeting held in June, reflecting strong support for the company’s growth strategy.
Market Position and Outlook
Atomo’s patented rapid diagnostic devices, which simplify and improve point-of-care testing, have secured supply agreements across multiple infectious disease applications. The recent Lumos order and successful capital raising efforts position Atomo well to capitalize on expanding demand, particularly in the US healthcare market. Managing Director John Kelly expressed confidence that the additional capital places the company in a robust position to advance its operational activities.
Advisory and Costs
The shortfall placement was advised by joint lead managers Bay Financial Pty Ltd and GBA Capital Pty Ltd, with a combined fee of 6% of funds placed. The securities from this placement are expected to be allotted on 14 August 2025, marking the completion of this phase of Atomo’s capital raising initiatives.
Bottom Line?
With fresh capital secured and a key US order in hand, Atomo Diagnostics is poised for its next growth phase, but investors will watch closely for revenue impact and execution.
Questions in the middle?
- How will the Lumos order translate into recurring revenue streams for Atomo?
- What are the company’s plans for deploying the new capital beyond working capital needs?
- How might the issuance of options affect future share dilution and investor returns?
