Quotient Limited Announces Proposed Underwritten Offering
June 23 2022 - 5:55PM
Quotient Limited (Nasdaq: QTNT) (the Company), a commercial-stage
diagnostics company, today announced the Company intends to
commence an underwritten public offering of $20 million of its
ordinary shares and, to certain investors in lieu of ordinary
shares, pre-funded warrants. All of the securities 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 to fund the ongoing development and commercialization
of its MosaiQ microarray menu and for working capital, operating
expenses and other general corporate purposes.
Jefferies LLC and Cowen and Company, LLC are
acting as joint book-running managers for the offering.
The securities in the public offering described
above are being offered pursuant to the Company's shelf
registration statement on Form S-3, as amended by Amendment No. 1,
filed with the Securities and Exchange Commission (SEC) on August
21, 2020 and on September 2, 2020, respectively, and declared
effective by the SEC on September 4, 2020. 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, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 18th Floor, New York, New York, 10022, or by
telephone at (877) 821-7388 or by email at
prospectus_department@jefferies.com; Cowen and
Company, LLC, c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by
telephone at (833) 297-2926 or by email at
PostSaleManualRequests@broadridge.com.
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
Building on over 30 years of experience in
transfusion diagnostics, Quotient is a commercial-stage diagnostics
company committed to delivering solutions that it believes reshape
the way diagnostics are practiced. The MosaiQ solution, Quotient’s
proprietary multiplex microarray technology, offers the world’s
first fully automated, consolidated testing platform, allowing for
multiple tests across different modalities. The MosaiQ solution is
designed to be a game-changing solution, which Quotient believes
will increase efficiencies, improve clinical practice, deliver
significant workflow improvements, and create operational cost
savings to laboratories around the world. Quotient's operations are
based in Switzerland, Scotland, US and the UAE.
The Quotient logo, Quotient MosaiQ 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, including the
anticipated offering size. 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 and
Quarterly Report on Form 10-Q, as well as other documents that
Quotient files with the Securities and Exchange Commission,
including the Registration Statement on Form S-3 (File
No. 333-248235), as amended by Amendment No. 1, 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,
Quotient MosaiQ and MosaiQ are trademarks or registered trademarks
of Quotient Limited or its subsidiaries in various
jurisdictions.
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