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Quidel Announces Private Exchange Transactions

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 . The transactions are expected to close on March 21,

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