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|Quidel Announces Pricing of Common Shares Offering|
SAN DIEGO, Jan 06, 2011 (BUSINESS WIRE) -- Quidel Corporation (NASDAQ: QDEL) announced today the pricing of its previously announced underwritten public offering of 4,000,000 of the Company's common shares at a price to the public of $13.15 per share. The closing of the offering is expected to take place on or about January 11, 2011, subject to customary closing conditions. The Company also granted the underwriter a 30-day option to purchase up to an additional 600,000 common shares to cover over-allotments. The Company expects to use the net proceeds of the offering for working capital and other general corporate purposes, which may potentially include the acquisition or development of new technology, the acquisition of diagnostic or related companies, products or businesses or the repayment of existing indebtedness.
J.P. Morgan Securities LLC is acting as sole book-running manager for the offering.
The securities are being offered by the Company pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), and declared effective on September 9, 2010. A final prospectus supplement related to the offering will be filed with the SEC and once filed will be available on the SEC's website located at www.sec.gov. Copies of the prospectus and the related final prospectus supplement can also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the leading brand names QuickVue(R), D3(R) Direct Detection and Thyretain(TM), Quidel's products aid in the detection and diagnosis of many critical diseases and conditions, including influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians' offices and hospital and reference laboratories.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risk and uncertainties, including, but not limited to statements regarding the offering, the expected closing date and the intended use of the net proceeds from the offering. Many possible events or factors could cause our actual results to differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. There can be no assurance that the offering will be completed on the expected date, or at all. Differences in actual results may arise as a result of a number of factors including, without limitation, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, and other risk factors discussed in the Company's Form 10-Q for the quarter ended September 30, 2010 and other documents filed by the Company with the SEC from time to time. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements, except as required by law.
SOURCE: Quidel Corporation