Quidel Announces Private Exchange Transactions
May 31 2018 - 10:15PM
Business Wire
Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of
rapid diagnostic testing solutions, cellular-based virology assays
and molecular diagnostic systems, announced that it has entered
into separate, privately negotiated exchange agreements with
certain holders of its 3.25% Convertible Senior Notes due 2020 (the
“2020 Notes”). Pursuant to these exchange agreements Quidel will
exchange approximately $32.678 million in aggregate principal
amount of the 2020 Notes for (i) approximately 927,470 shares of
the Company’s common stock plus (ii) an additional number of newly
issued shares of the Company’s common stock to be determined based
on the volume weighted average price of the Company’s common stock
over the three consecutive trading days commencing on June 1, 2018.
The transactions are expected to close on June 15, 2018.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well-being
of people around the globe through the development of diagnostic
solutions that can lead to improved patient outcomes and provide
economic benefits to the healthcare system. Marketed under the
Sofia®, QuickVue®, D3® Direct Detection, Thyretain®, Triage® and
InflammaDry® leading brand names, as well as under the new Solana®,
AmpliVue® and Lyra® molecular diagnostic brands, Quidel’s products
aid in the detection and diagnosis of many critical diseases and
conditions, including, among others, influenza, respiratory
syncytial virus, Strep A, herpes, pregnancy, thyroid disease and
fecal occult blood. Quidel’s recently acquired Triage® system of
tests comprises a comprehensive test menu that provides rapid,
cost-effective treatment decisions at the point-of-care (POC),
offering a diverse immunoassay menu in a variety of tests to
provide healthcare providers with diagnostic answers for
quantitative BNP, CK-MB, d-dimer, myoglobin, troponin I and
qualitative TOX Drug Screen. Quidel’s research and development
engine is also developing a continuum of diagnostic solutions from
advanced immunoassay to molecular diagnostic tests to further
improve the quality of healthcare in physicians’ offices, hospital
and reference laboratories, and other alternate sites, like urgent
care centers and retail clinics, where healthcare is provided. For
more information about Quidel’s comprehensive product portfolio,
visit quidel.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws that involve
material risks, assumptions and uncertainties. Many possible events
or factors could affect our future results and performance, such
that our actual results and performance may differ materially from
those that may be described or implied in the forward-looking
statements. As such, no forward-looking statement can be
guaranteed. The factors that could cause actual results to differ
from what is described herein, including, but not limited to the
failure of one or more of the exchanges to close, include financial
market conditions and actions by the counterparties to the exchange
agreements. Quidel is subject to additional risks and uncertainties
described in Quidel’s annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q. You are cautioned not to place
undue reliance on these forward-looking statements, which reflect
management’s analysis and expectations only as of the date of this
press release. Except as required by law, we undertake no
obligation to publicly release the results of any revision or
update of these forward-looking statements, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180531006632/en/
Quidel CorporationRandy Steward, 858-552-7931Chief Financial
OfficerorRuben Argueta, 858-646-8023rargueta@quidel.com
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