Quotient Limited Announces Pricing of Underwritten Offering of Ordinary Shares
April 05 2017 - 9:21AM
Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics
company, today announced the pricing of an underwritten public
offering of 7,000,000 of its ordinary shares at a price to the
public of $6.00 per share. The net proceeds to Quotient from this
offering are expected to be $39.2 million, after deducting
underwriting discounts and commissions and other estimated offering
expenses payable by Quotient. Quotient has also granted the
underwriters a 30-day option to purchase up to an additional
1,050,000 of its ordinary shares. The offering is expected to close
on or about April 10, 2017, subject to customary closing
conditions.
Jefferies LLC is acting as sole book-running
manager and BTIG, LLC is acting as the lead manager for the
offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
The securities described above are offered by
Quotient pursuant to a shelf registration statement on Form S-3
that was filed by Quotient with the Securities and Exchange
Commission (SEC) and declared effective on August 17, 2015. This
offering is being made only by means of a prospectus supplement and
an accompanying prospectus. When available, copies of the
prospectus supplement and accompanying prospectus relating to this
offering may be obtained from Jefferies LLC, Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, or by telephone at (877) 821-7388 or by email at
Prospectus_Department@Jefferies.com; and BTIG, LLC, Equity Capital
Markets, 825 Third Avenue, New York, NY 10022, or by telephone at
(212) 593-7555 or by email at EquityCapitalMarkets@btig.com.
About Quotient Limited
Quotient is a commercial-stage diagnostics
company committed to reducing healthcare costs and improving
patient care through the provision of innovative tests within
established markets. With an initial focus on blood grouping
and serological disease screening, Quotient is developing its
proprietary MosaiQ™ technology platform to offer a breadth of tests
that is unmatched by existing commercially available transfusion
diagnostic instrument platforms. The company's operations are
based in Edinburgh, Scotland; Eysins, Switzerland and Newtown,
Pennsylvania.
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements may include statements regarding the
underwritten public offering, including the anticipated net
proceeds to be raised in the offering and the expected closing date
of the offering. Such statements are based on current assumptions
that involve risks and uncertainties that could cause actual
outcomes and results to differ materially, including: market
conditions; Quotient's ability to satisfy the closing conditions
related to the offering; unanticipated expenses associated with the
offering; and other risks set forth in Quotient's most recent
Annual Report on Form 10-K, as well as other documents that
Quotient files with the Securities and Exchange Commission,
including the Registration Statement on Form S-3 (File No.
333-206026) for the offering. Investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. Quotient disclaims any obligation to
update these forward-looking statements because of new information,
future events or circumstances or other factors.
The Quotient logo and MosaiQ™ are registered
trademarks or trademarks of Quotient Limited and its subsidiaries
in various jurisdictions.
CONTACT: Christopher Lindop, Chief Financial Officer — christopher.lindop@quotientbd.com; +41 22-545-5226
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