Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Oxford Immunotec Global PLC (“Oxford” or the “Company”) (NASDAQ: OXFD), recently completed a follow-on offering of 4,893,616 common shares at a price of $11.75 per share, generating gross proceeds of approximately $57.5 million. Oxford intends to use the net proceeds from the offering to hire additional sales and marketing personnel to expand marketing of the T-SPOT.TB test into new segments, including potentially the United States physician office segment; accelerate commercial activities for two potential new transplant-related diagnostic tests; fund research and development programs dedicated to development of new diagnostic tests in the field of immunology, including immune-oncology tests; and for working capital and general corporate purposes, including potential acquisitions.Oxford is a global, commercial-stage diagnostics company focused on developing and commercializing proprietary tests for the management of immune-regulated conditions. The Company’s initial product is the T-SPOT®.TB test, which is used to test for latent tuberculosis infection. The T-SPOT.TB test has been approved for sale in over 50 countries, including the United States, where it has received pre-market approval from the Food and Drug Administration, Europe, where it has obtained a CE mark, as well as Japan and China. Oxford is headquartered near Oxford, United Kingdom and in Marlborough, Massachusetts.
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- Date
- February 2015
- Company
- Oxford Immunotec Global PLC
- Transaction
- M&A
- Sectors
- Healthcare
- Target Geography
- North America
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