April 2020

Atomo Diagnostics

Lead Manager (IPO)

Canaccord Genuity acts as Lead Manager to the A$16m Pre-IPO and the A$30m IPO of Atomo Diagnostics Limited

Canaccord Genuity is pleased to announce completion of the initial public offering and listing on the ASX of Atomo Diagnostics Limited (“Atomo”) (ASX: AT1).

AT1 debuted on the ASX yesterday (16^th April 2020) and has traded up 160% after two days of strong trading volumes. Canaccord Genuity acted as sole Lead Manager and sole bookrunner for the Pre-IPO and IPO capital raisings.

The Pre-IPO capital raising completed in Q4 2020 comprised a placement of convertible notes that was upsized from A$10 million to A$16 million with strong support from institutional and high net worth investors. The IPO was over-subscribed after upsizing from an initial target of A$17 million to A$30 million despite market uncertainties created by the COVID-19 pandemic. The IPO book saw strong support from institutional, high net worth and retail investors, leveraging Atomo’s long-term growth prospects, including exposure to COVID-19 related opportunities.

Atomo is an Australian medical device company supplying unique, integrated rapid diagnostic test (RDT) devices to the global diagnostic market. Atomo’s patented devices simplify testing procedures and enhance usability for professional users and untrained self-testers. Atomo has supply agreements in place for tests targeting infectious diseases including COVID-19, viral vs bacterial differentiation and female health. Atomo has sold over 1.2 million rapid test devices to date and has a contract for the sale of up to 2.46 million devices for COVID-19 tests in 2020.

The proceeds from the IPO will be used to accelerate expansion of Atomo’s manufacturing and distribution; research & development and product commercialisation; repayment of debt and interest; marketing and sales; and for working capital, operating costs and costs of the IPO.

Canaccord Genuity’s Investment Banking team was led by Tim Hosking and included Tom Wambeek, with significant support provided by Stewart Palmer from Canaccord Genuity Wealth. Canaccord Genuity’s Institutional Sales team was led by Alex Unsworth and Will Morley. Significant support was provided by our domestic institutional sales team and our Wealth Advisor team.