SAN DIEGO--(BUSINESS WIRE)--Mar. 8, 2018--
Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider
of rapid diagnostic testing solutions, cellular-based virology assays
and molecular diagnostic systems, announced that it has entered into
separate, privately negotiated exchange agreements with certain holders
of its 3.25% Convertible Senior Notes due 2020 (the “2020 Notes”).
Pursuant to these exchange agreements Quidel will exchange approximately
$67.656 million in aggregate principal amount of the 2020 Notes for (i)
approximately 1,730,309 shares of the Company’s common stock plus
(ii) an additional number of newly issued shares of the Company’s common
stock to be determined based on the volume weighted average price of the
Company’s common stock over the four consecutive trading days commencing
on March 9, 2018. The transactions are expected to close on March 21,
2018.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well-being of people
around the globe through the development of diagnostic solutions that
can lead to improved patient outcomes and provide economic benefits to
the healthcare system. Marketed under the Sofia®, QuickVue®, D3® Direct
Detection, Thyretain®, Triage® and InflammaDry® leading brand names, as
well as under the new Solana®, AmpliVue® and Lyra® molecular diagnostic
brands, Quidel’s products aid in the detection and diagnosis of many
critical diseases and conditions, including, among others, influenza,
respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease
and fecal occult blood. Quidel’s recently acquired Triage® system of
tests comprises a comprehensive test menu that provides rapid,
cost-effective treatment decisions at the point-of-care (POC), offering
a diverse immunoassay menu in a variety of tests to provide healthcare
providers with diagnostic answers for quantitative BNP, CK-MB, d-dimer,
myoglobin, troponin I and qualitative TOX Drug Screen. Quidel’s research
and development engine is also developing a continuum of diagnostic
solutions from advanced immunoassay to molecular diagnostic tests to
further improve the quality of healthcare in physicians’ offices,
hospital and reference laboratories, and other alternate sites, like
urgent care centers and retail clinics, where healthcare is provided.
For more information about Quidel’s comprehensive product portfolio,
visit quidel.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within
the meaning of the federal securities laws that involve material risks,
assumptions and uncertainties. Many possible events or factors could
affect our future results and performance, such that our actual results
and performance may differ materially from those that may be described
or implied in the forward-looking statements. As such, no
forward-looking statement can be guaranteed. The factors that could
cause actual results to differ from what is described herein, including,
but not limited to the failure of one or more of the exchanges to close,
include financial market conditions and actions by the counterparties to
the exchange agreements. Quidel is subject to additional risks
and uncertainties described in Quidel’s annual report on Form 10-K and
subsequent quarterly reports on Form 10-Q. You are cautioned not
to place undue reliance on these forward-looking statements, which
reflect management’s analysis and expectations only as of the date of
this press release. Except as required by law, we undertake no
obligation to publicly release the results of any revision or update of
these forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180308006453/en/
Source: Quidel Corporation
Quidel Corporation
Randy Steward
Chief Financial Officer
(858)
552-7931
or
Ruben Argueta
(858) 646-8023
rargueta@quidel.com