Atomo Diagnostics Limited (ASX: AT1) has successfully placed the shortfall from its Share Purchase Plan (SPP), raising $727,612.50. Atomo Diagnostics, headquartered in Australia, supplies unique, integrated rapid diagnostic test (RDT) devices to the global diagnostic market. The Shortfall Placement was made to a range of sophisticated investors, following an initial SPP which raised $272,387.50 through the allotment of 14,723,685 shares to existing shareholders.
A total of 14,054,054 shares were placed in the Shortfall Placement, raising $260,000. Investors participating in the Shortfall Placement will also receive 14,054,054 options, exercisable at $0.04 and expiring on 24 July 2028, matching the terms of the original SPP. Allotment of the Shortfall securities is anticipated on Thursday, 24 July 2025. The Shortfall Placement received shareholder approval at the Extraordinary General Meeting held on 23 June 2025.
Bay Financial Pty Ltd and GBA Capital Pty Ltd acted as joint lead managers for the Shortfall Placement. They will receive a fee of 6% of the funds placed. The company intends to allocate the raised capital to meet general working capital needs and support ongoing business objectives.
John Kelly, Managing Director & CEO & Interim Chair of Atomo Diagnostics, expressed gratitude to both existing and new shareholders for their participation in the company’s recent fundraising efforts, including the Placement, Share Purchase Plan, and Shortfall Placement. He stated that the additional capital positions the company strongly for its operational activities. The company retains the right to place out any remaining shares from the SPP Shortfall.
