Lumos Diagnostics (ASX:LDX) received firm commitments to raise AU$20 million through the placement of up to 88.9 million new shares at AU$0.225 apiece, according to a Friday filing with the Australian bourse.

Participants will also receive one unlisted free-attaching option to acquire one share each for every two placement shares subscribed for and issued, with an exercise price of AU$0.34 per option and an expiry date of Dec. 31, 2027, the filing said.

Additionally, the company will offer eligible shareholders in Australia and New Zealand the opportunity to participate in a share purchase plan for up to AU$2 million.

Proceeds will be used to support the US commercialization of the FebriDx blood test after 510(k) clearance with a Clinical Laboratory Improvements Amendment waiver issued by the US Food and Drug Administration, per the filing.