QTNT - Quotient drops 4% following $20M offering

Quotient (NASDAQ:QTNT) intends to offer $20M shares and, to certain investors in lieu of ordinary shares, pre-funded warrants. Underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares sold in the public offering. Actual size or terms of the offering yet to be finalized. Net proceeds to fund the ongoing development and commercialization of its MosaiQ microarray menu and for working capital, operating expenses and other general corporate purposes. Stock declines 4% during after market hours.

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Quotient drops 4% following $20M offering