Quotient Limited Announces Closing of Underwritten Offering of Ordinary Shares

JERSEY, Channel Islands, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ: QTNT) (the "Company"), a commercial-stage diagnostics company, today announced the closing of its previously announced underwritten public offering of 20,294,117 ordinary shares at a price to the public of $4.25 per share, which includes the exercise in full by the underwriters of their option to purchase up to 2,647,058 additional ordinary shares.A The net proceeds to the Company from this offering were approximately $80.5 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 development and commercialization of MosaiQ and for working capital, operating expenses and other general corporate purposes.Goldman Sachs & Co. LLCAandACowen and Company, LLCAacted as joint book-running managers for the offering.A BTIG, LLC acted as lead manager.A shelf registration statement on Form S-3, as amended by Amendment No. 1, relating to the ordinary shares offered in the public offering described above was filed with theASecurities and Exchange CommissionA(SEC) onAAugust 21, 2020 and on September 2, 2020, respectively, and declared effective by theASECAonASeptember 4, 2020.A A final prospectus supplement and accompanying prospectus relating to the offering was filed with theASECAand is available on the SEC's website Copies of the final prospectus supplement and the accompanying prospectus may also be obtained fromAGoldman Sachs & Co. LLC,AAttention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526 or by email;ACowen and Company, LLC, c/oABroadridge Financial Services,A1155 Long Island Avenue,AEdgewood, NYA11717, Attention: Prospectus Department, or by telephone at (833) 297-2926 or by email; andABTIG, LLC,AEquity Capital Markets,A65 East 55th Street,ANew York, NYA10022, or by telephone at (212) 593-7555 or by email 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.
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