Australian-headquartered medical device company Atomo Diagnostics (ASX:AT1) has announced that it has placed the shortfall of $727,612.50 from the Share Purchase Plan with a range of sophisticated investors.
Atomo’s patented devices simplify testing procedures, enhance usability and improve reliability across rapid point-of-care (POC) and at-home testing applications. The company has supply agreements in place for testing applications targeting infectious diseases, including HIV, Active Syphilis, viral vs bacterial differentiation, as well as the early detection of pregnancy.
The company stated that it initially raised $272,387.50 through its Share Purchase Plan, with the allotment of 14,723,685 shares to existing shareholders. It has placed a total of 14,054,054 shares to investors who participated in the Shortfall Placement, raising a total of $260,000. It stated that shareholders approved the Shortfall Placement at the recent Extraordinary General Meeting held on June 23, 2025.
The investors will also be issued 14,054,054 Options with an exercise price of $0.04, expiring 24 July 2028, on the same terms as the Share Purchase Plan (SPP).
Atomo said the funds raised will be used to meet its general working capital requirements and fund ongoing business objectives.
Managing Director, CEO and Interim Chair, John Kelly, said, “On behalf of the Board of Atomo Diagnostics Limited, I wish to thank existing and new shareholders for their participation in the Company’s fund-raising initiatives via the Placement, Share Purchase Plan and Shortfall Placement. This additional capital places the Company in a strong position to move forward with its operational activities. The Company reserves the right to place out the remaining shares from the SPP Shortfall.”