Quotient (QTNT) Prices 17.647M Upsized Common Offering at $4.25/Sh

Quotient Limited (NASDAQ: QTNT), 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.

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. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. BTIG, LLC is acting as lead manager.

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