Quotient Limited Announces Proposed Underwritten Offering of Ordinary Shares
December 06 2018 - 4:05PM
Quotient Limited (NASDAQ:QTNT) (the Company), a
commercial-stage diagnostics company, today announced the Company
intends to commence an underwritten public offering of its ordinary
shares. All of the ordinary shares to be sold in the offering will
be offered by the Company. In addition, the Company intends to
grant the underwriters a 30-day option to purchase up to an
additional 15% of the ordinary shares sold in the public offering.
The offering is subject to market 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.
The Company intends to use the net proceeds of
the offering primarily to fund the ongoing scale up and, if
approved, commercialization of MosaiQ and for working capital and
other general corporate purposes.
Jefferies LLC and Cowen and Company, LLC are
acting as joint book-running managers for the offering.
A shelf registration statement on Form S-3
relating to the ordinary shares offered in the public offering
described above was filed with the Securities and Exchange
Commission (SEC) on August 13, 2018, and declared effective by the
SEC on August 24, 2018. The offering will be made only by means of
a written prospectus and prospectus supplement that form a part of
the registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus, when available, may also 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
Cowen and Company, LLC, c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, or by telephone at (631) 274-2806.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities being
offered, nor shall there be any sale of the securities being
offered in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Quotient Limited
Quotient is a commercial-stage diagnostics
company committed to ensuring clinical excellence and increasing
the efficiency in the lab through the provision of innovative
testing methods for existing 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.
The Quotient logo and MosaiQ™ are registered trademarks or
trademarks of Quotient Limited and its subsidiaries in various
jurisdictions.
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
proposed underwritten public 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 closing conditions
related to the proposed 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. 333-226800) 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.
CONTACT: Christopher Lindop, Chief Financial
Officer — christopher.lindop@quotientbd.com; +41 (0)799 61 69
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