Quotient raises $40 million in IPO

Transfusion diagnostics company Quotient Ltd. (NASDAQ:QTNTU) raised $40 million through the sale of 5 million units at $8 in an IPO. Each unit comprises a share and a warrant to purchase 0.8 shares, with each whole warrant exercisable through October 2015 at $8.80. The price values Quotient at $115 million. Earlier this month, Quotient said it planned to sell 5 million shares at $9-$11. UBS; Baird; and Cowen are underwriters. Quotient's units began trading on Friday under the ticker QTNTU. The company's shares are slated to begin trading under the ticket QTNT following the expiration of the underwriters' overallotment option. The units were off $0.55 to $7.45 on Friday. ...