Quotient Limited Announces Pricing of Underwritten Offering of Ordinary Shares

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JERSEY, Channel Islands, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT) (the Company), a commercial-stage diagnostics company, today announced the pricing of its previously announced underwritten public offering of 9,230,770 ordinary shares at a price to the public of $6.50 per share. The net proceeds to the Company from this offering are expected to be approximately $56.1 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 1,384,615 ordinary shares. The offering is expected to close on December 11, 2018, subject to customary closing conditions.

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 is being 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 have been filed with the SEC and are available, and a final 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 . Copies of the final 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.

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.

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Globe Newswire: 02:05 GMT Friday 7th December 2018

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