Trader: Quotient's Public Offering Is 'Priced To Work,' Notes Stock could See Upside

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Shares of
Quotient LtdQTNT
plunged more than 25 percent on Friday and hit a new 52-week low of $7.47 after the company
announced
the pricing of a public offering of 4.44 million shares at a price of $9.00 per share. Shares of Quotient closed at $10.30 on Thursday. Quotient expects the offering to generate proceeds of $36.9 million and will
use the money to fund the ongoing development and commercialization of MosaiQ and for working capital and general corporate purposes. A trader who is familiar with Quotient's stock and business profile told Benzinga that the public offering is "priced to work" and the stock could see upside from its deflated levels.
Posted In: NewsOfferingsMosaiQQuotientTrader
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