Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) intends to undertake a pro rata accelerated non-renounceable entitlement offer with the aim of raising up to approximately A$10 million, before costs.
The offer at a price of A$0.038 per fully paid ordinary share is expected to open today and will be on the basis of one new share for every 1.82 shares held as at 7.00pm (Sydney time) on the record date.
This represents a 17.4% discount to the last closing share price of A$0.046 as at September 3, 2024, and a 12.0% discount to the 5-day VWAP of A$0.0432 as at that date.
Use of funds
Lumos Diagnostics intends to use funds from the offer towards completion of the FebriDx Clinical Laboratory Improvement Amendment (CLIA) waiver trial in the US, product development, sales and marketing activities.
Funds will also be allocated to general working capital and costs of the entitlement offer.
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.
Eligible shareholders who do not take up their entitlement under the offer in full or in part will not receive any value in respect to those entitlements not taken up.
The entitlement offer is to be lead managed by Bell Potter Securities Limited.
About Lumos Diagnostics
Lumos Diagnostics specialises in rapid and complete point-of-care diagnostic test technology to help healthcare professionals more accurately diagnose and manage medical conditions.
The company 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.
For more information visit lumosdiagnostics.com