Atomo Diagnostics Limited (ASX: AT1), an Australian-headquartered medical device company supplying unique, integrated rapid diagnostic test (RDT) devices to the global diagnostic market, has successfully placed the shortfall from its Share Purchase Plan (SPP). The company announced on Monday that it raised $727,612.50 through a shortfall placement to sophisticated investors. This follows an initial raising of $272,387.50 via the SPP, which involved the allotment of 14,723,685 shares to existing shareholders.
A total of 14,054,054 shares were placed to investors participating in the Shortfall Placement, raising $260,000. The Shortfall Placement received shareholder approval at the Extraordinary General Meeting held on June 23, 2025. Investors will also receive 14,054,054 options with an exercise price of $0.04, expiring on July 24, 2028, aligning with the terms of the SPP. Allotment of the Shortfall securities is expected to occur on Thursday, July 24, 2025.
Bay Financial Pty Ltd and GBA Capital Pty Ltd jointly managed the Shortfall Placement, receiving a fee of 6% of the funds placed. According to Atomo Diagnostics, the funds raised will be used to meet general working capital requirements and support the company’s ongoing business objectives.
John Kelly, Managing Director & CEO & Interim Chair, thanked existing and new shareholders for their participation in the recent fundraising initiatives. He stated that the additional capital puts Atomo Diagnostics in a stronger position to advance its operational activities. The company has reserved the right to place out the remaining shares from the SPP Shortfall.
