Blood test developer Quotient decreases range to $9 to $11; cuts deal size by 33%

By
A A A

Quotient, which is developing a diagnostics test for grouping and disease screening blood samples, lowered the proposed deal size for its upcoming IPO on Monday. The Midlothian, United Kingdom-based company now plans to raise $50 million by offering 5 million shares at a price range of $9 to $11. The company had previously filed to offer 5 million shares at a range of $14 to $16. At the midpoint of the revised range, Quotient will raise 33% fewer proceeds than previously anticipated.

Quotient, which was founded in 2007 and booked $19 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol QTNT. Quotient initially filed confidentially on January 22, 2014. UBS Investment Bank, Baird and Cowen & Company are the joint bookrunners on the deal. It is expected to price the week of April 14, 2014.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: QTNT

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

Most Active by Volume

21,671,646
  • $39.09 ▲ 1.14%
15,503,618
  • $17.12 ▲ 0.53%
12,899,275
    $13.67 unch
11,984,619
  • $102.04 ▲ 0.97%
10,485,016
  • $88.205 ▼ 1.87%
7,891,422
  • $5.15 ▲ 0.78%
7,576,983
  • $77.35 ▲ 0.72%
6,893,035
  • $58.10 ▼ 1.04%
As of 9/23/2014, 10:15 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com