Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., Sep. 19, 7:28 AM
|This Slide: #17 of 25|
Slide #17. Quotient Limited — Secondary Offering
Quotient Limited (NASDAQ:QTNT)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Quotient Limited (NASDAQ: QTNT) (the Company), a commercial-stage diagnostics company, today announced the upsize and pricing of a $75 million underwritten public offering. The Company is offering 17,647,059 ordinary shares at a price to the public of $4.25 per share. The offering was upsized from the previously announced offering of $60 million. The net proceeds to the Company from this offering are expected to be approximately $69.9 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. All of the ordinary shares sold in the offering were offered by the Company. In addition, the Company has granted the underwriters a 30 day option to purchase up to an additional 2,647,058 of its ordinary shares. The offering is expected to close on September 15, 2020, subject to customary closing conditions.
Quotient is a commercial-stage diagnostics company. Co. focuses on blood grouping and donor disease screening, which is referred to as transfusion diagnostics. Blood grouping involves specific procedures performed at donor or patient testing laboratories to characterize blood, which includes antigen typing and antibody detection. Disease screening involves the screening of donor blood for unwanted pathogens using two different methods, a serological approach (testing for specific antigens or antibodies) and a molecular approach (testing for DNA or RNA). Co. is developing MosaiQ, its proprietary technology platform, and a third microarray for molecular disease screening.
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Strong Buy (4.00 out of 4)
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