HWL Ebsworth has acted for Atomo Diagnostics Limited (ASX:AT1) on its recent initial public offering and ASX listing. The oversubscribed IPO raised $30 million via the issue of 150 million shares at $0.20 each. ASX conducted its first ever virtual listing ceremony for Atomo, which was also the first listing ceremony hosted by Zoom globally. AT1 commenced trading on the ASX on 16 April 2020 at a strong premium.
Atomo is an Australian medical device company which supplies integrated rapid diagnostic test (RDT) devices for professional and self-test use to the global diagnostic market. Its rapid HIV test devices are sold direct to market in Australia and through distributors in Africa and Europe and it has also entered into agreements to supply its COVID-19 rapid blood-based tests to France. Atomo also supplies its device for use by other diagnostic companies to produce devices that test for chronic infections and pregnancy.
The HWL Ebsworth team was led by Grant Hummel, Partner, and assisted by Hanna Posa, Senior Associate, and Rita Mikhael, Solicitor.
Canaccord Genuity Australia acted as lead manager on the IPO. BDO acted as investigating accountant and taxation adviser.
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