LONDON, July 19, 2022 - LumiraDx Limited (Nasdaq: LMDX), a next-generation point of care (POC) diagnostics company, today announced that it has commenced an underwritten public offering of 40,000,000 common shares. All of the shares in the proposed offering are to be sold by LumiraDx. In addition, LumiraDx intends to grant the underwriters a 30-day option to purchase up to an additional 6,000,000 common shares at the public offering price. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.
LumiraDx expects to use the net proceeds from this offering, together with its existing cash and cash equivalents, principally for general corporate purposes, including working capital in respect to R&D, business development, and sales and marketing activities as well as ordinary course capital expenditures.
Goldman Sachs & Co. LLC, Evercore ISI, SVB Securities and Raymond James are acting as joint book-running managers for the proposed offering.
The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to these securities may be obtained for free from any of the book-running managers for the proposed offering: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at email@example.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at firstname.lastname@example.org; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at email@example.com; or Raymond James & Associates, Inc., Attention: Syndicate Department, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at firstname.lastname@example.org.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”), but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. This press release does not constitute an offer to sell, or a solicitation of an offer to buy securities, any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
LumiraDx (Nasdaq: LMDX) is a next-generation point of care diagnostics company that is transforming community-based healthcare. Founded in 2014, LumiraDx manufactures and commercializes an innovative diagnostic Platform that supports a broad menu of tests with lab comparable performance at the point of care. LumiraDx’s diagnostic testing solutions are being deployed by governments and leading healthcare institutions across laboratories, urgent care, physician offices, pharmacies, schools, and workplaces to screen, diagnose, and monitor wellness as well as disease. LumiraDx has, on the market and in development, 30+ tests covering infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders, all on the LumiraDx Platform. In addition, LumiraDx has a comprehensive portfolio of fast, accurate, and cost-efficient COVID-19 testing solutions from the lab to point of need. LumiraDx is based in the UK with more than 1600 employees worldwide.
This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. Such statements relate to a variety of matters, including, without limitation, the company's expectations regarding the sale of its common shares in the proposed offering, use of the proceeds from the proposed offering, the grant of the option to purchase additional shares, and other statements that are not purely statements of historical fact. These forward-looking statements include information about the terms of the offering, our ability to consummate the offering and our intended use of proceeds. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements.
Although we believe that the forward-looking statements contained in this press release are based on reasonable assumptions, you should be aware that many factors could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: general economic, political and business conditions; the effect of COVID-19 on LumiraDx's business and financial results; obtaining or maintaining regulatory approval, authorization or clearance for our tests; and those factors discussed under the header "Risk Factors" in the preliminary prospectus relating to the securities, when available, in our Annual Report on Form 20-F for the year ended December 31, 2021, which was filed with the SEC on April 13, 2022 and in other filings that we make with the SEC.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements contained herein, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based.
Supporting healthier lives, for individuals, communities and wider society.
Enabling responsive, personal relationships between patients and care teams.
Controlling and reducing costs to help ease pressure on healthcare budgets.