Australia's Atomo Diagnostics tanks on discounted share placement

Atomo Diagnostics

13/07/2023 06:06

** Shares of Atomo Diagnostics  AT1.AX  down 27% at A$0.038,
lowest level since July 4
    ** Tanks as much as 28.9% to A$0.037, marking its worst
intraday drop since July 5
    ** About 4.7 mln shares change hands, vs the 30-day average
of 4.4 mln shares
    ** Issues 35 mln shares at A$0.036 per share, a discount of
30.8% to its last close 
    ** Share issue represents 10.6% of AT1's free float of 328.7
mln shares
    ** Says funds to be used to expand and accelerate sales,
among others
    ** AT1 down 3.7% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))