LumiraDx tumbles on $100 mln equity raise

LumiraDx

21/07/2022 14:24

** Shares of LumiraDx Limited  LMDX.O  down ~17% premarket
as co raises equity
    ** UK-based COVID-19 diagnostic test maker sells 43 mln
shares at $1.75 for ~$75 mln raise  urn:newsml:reuters.com:*:nPn4LKLLJa
    ** Co also sells ~14.3 mln shares at $1.75 for $25 mln in
concurrent private placement to existing investor, the Bill &
Melinda Gates Foundation
    ** Goldman, Evercore, SVB Secs and Raymond James acted as jt
bookrunners for public offering
    ** LMDX fell ~15% over past 2 sessions since offering
launched and set new record low close of $2.11 on Weds
    ** Shares have lost >70% since their Sept 29 debut after co
completed SPAC deal
    ** Co has ~207.5 mln shares outstanding and ~102.7 mln of
free float, per Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))