Quidel Corp., a San Diego-based diagnostics company, announced the pricing of its underwritten public offering of $150 million in convertible senior notes due in 2020.
Quidel said it intends to use the net proceeds from this 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.
Quidel (NASDAQ: QDEL) has granted the underwriters of the notes a 30-day option to purchase up to an additional $22.5 million aggregate principal amount of the notes to cover over-allotments.
Bank of America, Merrill Lynch and J.P. Morgan are acting as book-running managers for the proposed notes offering. The offering is expected to close on or around December 2014.