Following an oversubscribed initial public offering and the first ASX virtual 
bell ringing listing, trading of shares in Australian rapid blood test company 
Atomo Diagnostics Limited (Atomo) commenced on the Australian Securities 
Exchange (ASX) today under the ticker code AT1. 

Strong institutional and retail investor demand led to the company raising a 
total of $30 million at the offer price of $0.20 per share. Atomo lists with a 
market capitalisation of $112 million and an enterprise value of $80.31 million.

Key shareholders include billionaire property developer Lang Walker, former 
Macquarie Bank Chief Executive Officer Allan Moss, the Bill and Melinda Gates 
Foundation-backed social impact investor Global Health Investment Fund and the 
Government of Canada's Grand Challenges Canada fund, as well as many well-known 
Australian institutions. 

In recent weeks, Atomo had announced strong interest in the use of its 
integrated rapid test device for the testing of COVID-19. On 31 March 2020, a 
binding agreement was announced under which French company NG Biotech would 
have the right to purchase up to a total of 2.465 million devices during 
calendar year 2020 for sale in France and the United Kingdom. 

Funds raised under the offer will be applied to the expansion of Atomo's 
manufacturing and distribution capacity to support demand for tests using 
Atomo's devices, including for COVID-19, HIV and other purposes and continue to 
support its existing HIV distributors and other original equipment 
manufacturing (OEM) customers.

Atomo's co-founder and Managing Director, John Kelly said, "This is a hugely 
significant day in Atomo's history. We started the listing process to underpin 
the expansion of our global HIV business and enable us to commercialise other 
opportunities in the rapid blood test market, but through the offer period 
determined we were also uniquely positioned to make a major impact within the 
COVID-19 environment. We are now well-capitalised and able to quickly move to 
meet the significant global demand for reliable rapid testing for COVID-19 in 
the community," he added.


Atomo Diagnostics Chairman John Keith said, "Given the extraordinary demands 
being made of economies, capital markets and public health systems, we are most 
grateful for the confidence and support extended to Atomo and our IPO by new 
and existing shareholders. Our simple vision of improving health outcomes 
globally continues to guide Atomo as we accelerate developing growth 
opportunities and delivering sustainable value to our customers, partners and 
shareholders," he concluded.

Global Health Investment Fund President and Atomo Board member Curt LaBelle 
said, "Atomo has already demonstrated the transformative impact of rapid HIV 
detection globally, and we're proud to see a successful public offering that 
will enable the firm to quickly action in applying its technology to the 
commercialisation of COVID-19 test devices. This is a major milestone for Atomo 
as it continues to take a leadership position in diagnostic testing to help 
reduce stress on healthcare systems and increase patient access to testing 
worldwide."

Atomo's shares commence quotation on ASX at 11am AEST, following an online 
ringing of the bell ceremony, convened by the ASX; lead manager, Canaccord 
Genuity Australia Limited and IR Department. HWL Ebsworth acted as legal 
advisor in relation to the IPO. 

This announcement was authorised by John Kelly, Managing Director

SOURCE  Atomo Diagnostics