Quotient Limited Announces Exercise of 99.6% of Warrants Prior to Expiration

JERSEY, Channel Islands, Oct. 29, 2015 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced that a total of 4,981,052, or 99.6%, of its outstanding warrants were exercised prior to their expiration at 5:30 p.m. New York City time on October 26, 2015. The warrants had previously traded on the NASDAQ Global Market under the symbol "QTNTW" and were delisted in connection with their expiration. As a result of the exercises of the warrants, Quotient received gross proceeds of approximately $35.1 million and issued a total of 3,984,823 ordinary shares. A total of 5,000,000 warrants had been issued in conjunction with Quotient's initial public offering. The 18,948 remaining warrants that were not exercised prior to the expiration time have expired. As of October 28, 2015, there were 20,961,292 ordinary shares issued and outstanding.

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; Eysins, Switzerland; and Newtown, Pennsylvania.

CONTACT: Stephen Unger, Chief Financial Officer stephen.unger@quotientbd.com; (212) 228-7572

Source:Quotient Limited