Quanterix Prices Public Offering of Common Stock

Rhea-AI Summary

Quanterix Corporation (Nasdaq: QTRX) has announced the pricing of its public offering of 3,571,428 shares of common stock at $70.00 per share, aiming for gross proceeds of approximately $250 million. The offering, which is expected to close on or about February 8, 2021, includes an option for underwriters to purchase an additional 535,714 shares. The offering is filed under a previously effective shelf registration statement. Goldman Sachs, SVB Leerink, and Cowen are the joint bookrunning managers for this offering.

Positive

• Gross proceeds of approximately $250 million expected from the sale of shares.
• Potential for underwriters to purchase an additional 535,714 shares.
• Funds could enhance the company’s growth and development initiatives.

Negative

• Dilution risk for existing shareholders from the additional shares being offered.
• Market conditions may affect the success of the offering.

Quanterix Corporation (Nasdaq: QTRX), a company digitizing biomarker analysis to advance the science of precision health, today announced the pricing of its previously announced underwritten public offering of 3,571,428 shares of its common stock at a public offering price of $70.00 per share. All of the shares in the offering will be sold by Quanterix. Gross proceeds from the sale of the shares, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $250 million. Quanterix has also granted the underwriters a 30-day option to purchase up to an additional 535,714 shares of common stock on the same terms and conditions.

The offering is expected to close on or about February 8, 2021, subject to customary closing conditions.

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 is being 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 has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, can be obtained from Goldman Sachs & Co., 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.

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 filed with the SEC on February 3, 2021, 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, 3030 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 the public offering price for Quanterix (QTRX) shares?

The public offering price for Quanterix shares is $70.00 per share.

How many shares of common stock is Quanterix offering?

Quanterix is offering 3,571,428 shares of its common stock.

What are the expected gross proceeds from Quanterix's offering?

Quanterix expects gross proceeds of approximately $250 million from the stock offering.

When is the expected closing date for Quanterix's public offering?

The expected closing date for the offering is on or about February 8, 2021.

Who are the joint bookrunning managers for the offering by Quanterix?

The joint bookrunning managers for Quanterix's offering are Goldman Sachs, SVB Leerink, and Cowen.