Lumos Diagnostics (ASX: LDX) has confirmed iy intends to undertake a pro rata accelerated non-renounceable entitlement offer to raise up to approximately $10 million
The offer price of $0.038 per Share represents a 17.4% discount to the last closing Share price of $0.046 (as at 3 September 2024) and a 12.0% discount to the 5-day VWAP of $0.0432.
The Entitlement Offer will provide eligible shareholders with the opportunity to take up new shares proportional to their shareholding and mitigate the effect of dilution.
Funds raised from the Entitlement Offer are intended to be applied towards:
(a) completion of the FebriDx Clinical Laboratory Improvement Amendment (CLIA) waiver trial in the US, product development, sales and marketing activities;
(b) general working capital; and
(c) costs of the Entitlement Offer.
The Entitlement Offer is to be lead managed by Bell Potter Securities Limited.
Lumos Diagnostics specialises in rapid and complete point-of-care diagnostic test technology to help healthcare professionals more accurately diagnose and manage medical conditions.
It offers customised assay development and manufacturing services for point-of-care tests and proprietary digital reader platforms. Lumos also directly develops, manufactures, and commercialises novel Lumos-branded point-of-care tests that target infectious and inflammatory diseases.
