Quotient (QTNT) Announces Proposed $20M Underwritten Offering

Quotient Limited (Nasdaq: QTNT) today announced the Company intends to commence an underwritten public offering of $20 million of its ordinary shares and, to certain investors in lieu of ordinary shares, pre-funded warrants. All of the securities to be sold in the offering will be offered by the Company. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares sold in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

The Company intends to use the net proceeds of the offering to fund the ongoing development and commercialization of its MosaiQ microarray menu and for working capital, operating expenses and other general corporate purposes.

Jefferies LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.

The securities in the public offering described above are being offered pursuant to the Company's shelf registration statement on Form S-3, as amended by Amendment No. 1, filed with the Securities and Exchange Commission (SEC) on August 21, 2020 and on September 2, 2020, respectively, and declared effective by the SEC on September 4, 2020. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 18^th Floor, New York, New York, 10022, or by telephone at (877) 821-7388 or by email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (833) 297-2926 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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