Quotient Ltd. Reports $27 Mln Private Placement

(RTTNews) - Quotient Ltd. (QTNT), a commercial-stage diagnostics company, announced signing agreements to issue to certain subscribers 2 million ordinary shares at $9.50 per share and 850,000 pre-funded warrants at $9.49 per warrant, exercisable for up to 850,000 ordinary shares at $0.01 per ordinary share. The aggregate gross proceeds of the private placement are likely to be around $27 million.

The firm plans to use the net proceeds from the financing for general corporate purposes, including to fund the development costs for MosaiQ. The private placement may close on or about November 28, 2014.