LDX raised AU$2.65 million through private placement to existing institutional shareholders.

Lumos Diagnostics (ASX: LDX) has successfully raised AU$2.65 million through a private placement, issuing 37.9 million shares at AU$0.07 per share to existing institutional shareholders. This offering, made at a 10% discount to the closing share price on October 27, 2023, utilized Lumos' remaining placement capacity, with completion expected by November 2, 2023.

The funds will enhance the Company's working capital, supporting initiatives such as the launch of FebriDx and ViraDx in the United States, as well as exploring new opportunities with strategic and potential commercial partners. The decision to extend this placement opportunity to institutional shareholders followed a subdued response from the Share Placement Plan (SPP) conducted in August. Lumos Diagnostics will provide further updates to shareholders at its Annual General Meeting on November 2, 2023.

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