NEW YORK – Quotient Limited announced Thursday evening the upsizing and pricing of a $75 million public offering of its ordinary shares.
The Eysins, Switzerland-based firm previously said it would offer $60 million of its shares.
Quotient is offering 17,647,059 of its ordinary shares at $4.25 per share. The net proceeds from the offering are expected to be about $69.9 million. The company has granted the underwriters a 30-day option to purchase up to an additional 2,647,058 shares.
Goldman Sachs and Cowen are joint book-running managers for the offering, and BTIG is the lead manager.
The offering is expected to close on Sept. 15.
Proceeds will go toward the ongoing development and commercialization of its MosaiQ diagnostic platform and for working capital, operating expenses, and other general corporate purposes, Quotient said.