Quotient, which develops quick and comprehensive diagnostic tests for blood diseases, announced terms for its IPO on Thursday. The Midlothian, United Kingdom-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, it would command a fully diluted market value of $225 million.
Quotient, which was founded in 2007 and booked $19 million in sales for the 12 months 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.
