Quidel Announces Private Exchange Transactions
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 $32.678 million in aggregate principal amount of the 2020 Notes for (i) approximately 927,470 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 three consecutive trading days commencing on June
1, 2018. The transactions are expected to close on June 15, 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.
Quidel Corporation
Randy Steward, 858-552-7931
Chief Financial Officer
or
Ruben Argueta, 858-646-8023
rargueta@quidel.com
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