JERSEY, Channel Islands, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Quotient Limited (QTNT) (the Company), a commercial-stage diagnostics company, today announced the closing of its previously announced underwritten public offering of 10,615,385 ordinary shares at a price to the public of $6.50 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,384,615 additional ordinary shares. The net proceeds to the Company from this offering were approximately $64.6 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.
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 acted 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. A final prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus 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.
CONTACT: Christopher Lindop, Chief Financial Officer — firstname.lastname@example.org; +41 (0)799 61 69 38