Point-of-care diagnostics company LumiraDx on Tuesday announced it has commenced an underwritten public offering of 40 million common shares.
The London-based firm also intends to grant underwriters a 30-day option to purchase up to an additional six million common shares at the public offering price.
The company said it expects to use the net proceeds from the offering and existing cash and cash equivalents for general corporate purposes, including working capital for R&D, business development, and sales and marketing activities, as well as ordinary course capital expenditures.
Goldman Sachs, Evercore ISI, SVB Securities, and Raymond James are the joint book-running managers for the proposed offering.
