Quanterix Announces Proposed Public Offering of $200.0 Million of its Common Stock

Rhea-AI Summary

Quanterix Corporation (Nasdaq: QTRX) has launched an underwritten public offering of $200 million of its common stock, with an option for underwriters to purchase an additional 15%. This offering is aimed at supporting its digitization of biomarker analysis, playing a significant role in precision health. The offering will occur under an existing shelf registration statement. Quanterix is working with Goldman Sachs, SVB Leerink, and Cowen as bookrunning managers. Market conditions may affect the completion and final terms of the offering.

Positive

• Offering intended to raise $200 million, potentially fueling growth in precision health technology.
• Underwriters have a 30-day option to purchase additional shares, indicating confidence in the offering.

Negative

• Completion of the offering is uncertain, subject to market conditions.
• Potential dilution for existing shareholders due to the offering of additional shares.

Quanterix Corporation (Nasdaq: QTRX), a company digitizing biomarker analysis to advance the science of precision health, today announced that it has commenced an underwritten public offering of $200.0 million of its common stock. In connection with the offering, Quanterix intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock at the public offering price less the underwriting discounts and commissions. All of the shares in the offering will be sold by Quanterix. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC, SVB Leerink LLC and Cowen and Company, LLC are acting as joint bookrunning managers for the offering. Canaccord Genuity LLC is acting as lead manager for the offering.

The public offering will be made pursuant to a shelf registration statement on Form S-3ASR (File No. 333-249925) previously filed with the Securities and Exchange Commission (“SEC”) on November 6, 2020, which automatically became effective upon filing. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526 or by e-mail at prospectus-ny@ny.email.gs.com, from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at (800) 808-7525, ext. 6105 or by e-mail at syndicate@svbleerink.com, or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

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

About Quanterix

Quanterix is a company that’s digitizing biomarker analysis with the goal of advancing the science of precision health. The company’s digital health solution, Simoa, has the potential to change the way in which healthcare is provided today by giving researchers the ability to closely examine the continuum from health to disease. Quanterix’ technology is designed to enable much earlier disease detection, better prognoses and enhanced treatment methods to improve the quality of life and longevity of the population for generations to come. The technology is currently being used for research applications in several therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and is located in Billerica, Massachusetts.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “may,” “will,” “ could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include statements regarding the completion of the proposed public offering. These statements are subject to various risks and uncertainties, actual results could differ materially from those projected and Quanterix cautions investors not to place undue reliance on the forward-looking statements in this press release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Quanterix will be able to complete the public offering on the anticipated terms, or at all. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, the risks and uncertainties described in the section entitled “Risk Factors” in Quanterix’ preliminary prospectus supplement related to the proposed offering to be filed with the Securities and Exchange Commission (SEC) and Quanterix’ most recent Annual Report on Form 10-K filed with the SEC, Quanterix’ Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 filed with the SEC, and in other filings Quanterix makes with the SEC from time to time. Quanterix undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

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FAQ

What is Quanterix Corporation's stock offering amount?

Quanterix Corporation has announced a public offering amounting to $200 million.

Is there an option for underwriters in Quanterix's stock offering?

Yes, underwriters have a 30-day option to purchase up to an additional 15% of the shares.

What are the potential impacts of Quanterix's stock offering on existing shareholders?

The offering may lead to potential dilution for existing shareholders.

When was Quanterix's stock offering announced?

The stock offering was announced today, February 3, 2021.

Who are the underwriters for Quanterix's stock offering?

Goldman Sachs, SVB Leerink, and Cowen are acting as joint bookrunning managers for the offering.