Atomo Raises Funds for US Market Expansion through Placement and SPP

Atomo Diagnostics Limited (ASX: AT1)  has successfully raised approximately AU$1.25 million through a share placement to institutional and sophisticated investors. The placement involved the issuance of around 35 million shares at AU$0.036 per share, representing a 30.8% discount to the last closing price. Additionally, the company plans to offer eligible shareholders in Australia, New Zealand, and the United Kingdom the opportunity to participate in a Share Purchase Plan (SPP).

The SPP aims to generate approximately AU$2.75 million in gross proceeds, allowing shareholders to apply for up to AU$30,000 of new fully paid ordinary shares. The funds raised from the placement and SPP will be utilized to expand sales, marketing, business development, and new product registration activities, with a specific focus on the US market following FDA 510(k) approval for Lumos Diagnostics' FedbriDx test on the Atomo Pascal platform. The CEO of Atomo, John Kelly, expressed gratitude to investors and shareholders for their support and encouraged further participation in the SPP.

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