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Quidel Proposes $150M Senior Notes Offering

NEW YORK (GenomeWeb) — Quidel announced yesterday after the close of the market a proposed underwritten public offering of $150 million in convertible senior notes due 2020.

Quidel also expects to grant the underwriters of the notes a 30-day option to purchase up to an additional $22.5 million aggregate principal amount of the notes, solely to cover over-allotments, if any.

The San Diego-based clinical diagnostics firm said it plans to use the net proceeds from the offering for working capital and other general corporate purposes, which may include acquisitions of products, technologies, or businesses, and opportunistic repurchases of shares of its common stock.

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