JERSEY, Channel Islands, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today issued a reminder to warrant holders that the company's warrants expire on Monday, October 26, 2015 at 5:30 p.m. New York City time. The warrants have been trading on the NASDAQ Global Market since May 27, 2014 under the symbol "QTNTW." Each warrant entitles the holder to purchase 0.8 of one ordinary share at an exercise price of $8.80 per whole ordinary share. A total of 5,000,000 warrants were issued in conjunction with Quotient's initial public offering. As of September 2, 2015, there were 3,529,529 warrants outstanding.
Warrant holders who hold their warrants through a brokerage account should contact their broker for instructions regarding the exercise of warrants and the payment of the exercise price. To exercise their warrants, warrant holders must (i) deliver to Continental Stock Transfer & Trust Co., the company's warrant agent (the "Warrant Agent"), at its corporate trust department located at 17 Battery Place, 8th Floor, New York, New York 10004, a duly executed notice of exercise form on or before 5:30 p.m. New York City time on October 26, 2015, and (ii) within three trading days of the date of delivery of such duly executed notice of exercise form, pay to the Warrant Agent the applicable aggregate exercise price by wire transfer or cashier's check drawn on a U.S. bank and, to the extent required, surrender to the Warrant Agent such warrants for cancellation. Any fractional share issuable will be rounded down to the nearest whole share and the Company shall pay the holder otherwise entitled to such fraction a sum in cash. Warrants not exercised on or before 5:30 p.m. New York City time on October 26, 2015 will become void.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A copy of the prospectus relating to the ordinary shares underlying the warrants may be requested from Quotient Limited, Pentlands Science Park, Bush Loan, Penicuik, Midlothian, EH26 OPZ, United Kingdom, Attention: Roland Boyd. A copy of the prospectus may also be accessed from the U.S. Securities and Exchange Commission at www.sec.gov.
About Quotient Limited
Quotient is a commercial-stage diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets. With an initial focus on blood grouping and serological disease screening, Quotient is developing its proprietary MosaiQTM technology platform to offer a breadth of tests that is unmatched by existing commercially available transfusion diagnostic instrument platforms. The company's operations are based in Edinburgh, Scotland; Newtown, Pennsylvania; and Eysins, Switzerland.
CONTACT: Stephen Unger, Chief Financial Officer - firstname.lastname@example.org; (212) 228-7572