Quotient Prices IPO Below Range

(RTTNews) - Quotient Ltd. Said Friday that it has priced its initial public offering of 5 million units, each consisting of one ordinary share and one warrant to purchase 0.8 of one ordinary share, at a price of $8.00 per unit, which is below the previously estimated range of $9.00 to $11.00 per unit. The warrants will be exercisable at an exercise price of $8.80 per whole ordinary share.

The company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 units at the initial public offering price.

The units are expected to begin trading on Friday, April 25, on the NASDAQ Global Market under the ticker symbol "QTNTU." The ordinary shares and warrants comprising the units will begin trading separately on the NASDAQ Global Market under the symbols "QTNT" and "QTNTW," respectively, on the first trading day following the expiration of the underwriters' 30-day over-allotment option, at which time trading of the units will be suspended and the units will be delisted.

The offering is expected to close on April 30.

UBS Investment Bank, Baird and Cowen and Company are acting as joint book-running managers for the offering.